• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 7 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 7 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Russia Drives Final Stake Through the Heart of the Nabucco Pipeline?

European investors, ever eager to embrace massive and profitable energy projects, in the last several years have dreamed of somehow persuading Turkmenistan to divert volumes of its ever increasing natural gas production to fulfill one of Europe's most cherished reveries, the Nabucco pipeline.

Quite aside from the billions in profits that Nabucco would generate, it would have the added political advantage of assisting one of Europe's most cherished ambitions, lessening its energy dependency on Russia, as state owned Gazprom now supplies 40 percent of Europe's natural gas imports. Worse, the EU's European Commission projects that the EU's overall gas consumption will increase by as much as 61 percent from its current level of 502 billion cubic meters (bcm) to 815 bcm by 2030.

A quick note to investors - forget about it, as Russian Federation President Dmitrii Medvedev has just effectively killed Turkmen participation in the pipeline, no matter how eager investors are to throw cash at the 56-inch, 2,050-mile Nabucco pipeline, first proposed in 2002. At a cost initially estimated at $11.4 billion and rising, Nabucco will be the most expensive pipeline ever built.

And just how did Medvedev drive a stake through Turkmen participation in Nabucco?

Simple - on 14 October Medvedev insisted that all five Caspian nations would have to assent to building the undersea pipeline, which would transit from Turkmenistan's eastern Caspian shore to Azerbaijan's capital…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News