Nabucco Pipeline Becomes A Reality

Turkey has now signed, and the Nabucco Gas Pipeline will now become a reality. The skeptics were proven wrong on this project to be sure.

The Nabucco Pipeline will transport natural gas from Turkey to Austria — via Bulgaria, Romania, and Hungary. This deal is backed by the United States and many European Union states.

Although no concrete deals have yet been made, the Caspian Sea region is thought to be rich in energy resources. The oil in this area could be worth over $12 trillion dollars. This is big.

This part of the world is significant, because of the the rich resources that it has to offer. The Nabucco Pipeline project will obviously benefit the western market.

Hopefully a petroleum thirsty market can now be more satisfied, and in the process unify political differences between nations. Necessity can often be the catalyst that heals and solves problems.

The Nabucco Pipeline hopefully will offer relief to European countries that have relied on Russia’s Gazprom, and have been shut off in the middle of winter because of alleged gas disputes between Russia and Ukraine.

These Russia-Ukraine gas disputes have left Europe frosty, and very vulnerable on multiple occasions. This has been unacceptable to European countries and it appears that they now may have other options.

But Russia will still possess leverage in the region. Russia’s own company South Stream will offer as much competition as it possibly can muster.

The Nabucco Pipeline is a milestone for Europe because it should at least offer other alternatives besides the Russian-owned gas cartel. The Nabucco Pipeline project now has more ink behind it.