What we still have to learn about Nabucco
Publisher: CEE Bankwatch Network
Volume: 3 pages, pdf
Description:
For over a year now, since it was resurrected in the wake of the Ukraine-Russia gas 'conflict', the Nabucco gas pipeline has been granted unprecedented political support from the EU, supplemented with millions of European taxpayers' money under the disguise of anti-crisis measures. Nevertheless, the ongoing Nabucco saga shows that geopolitical support is not sufficient to make this EUR 8 billion investment economically justified as it does not provide an answer to the main shortcoming of the project – a lack of confirmed gas supply. It also so far has not resulted in making the project harmless to people and environment.