…or signing an inter-governmental agreement?
"The completion of the Intergovernmental Agreement represents a significant breakthrough in the realization of this project," said Reinhard Mitschek, Managing Director of the Nabucco Pipeline Int.
The only problem with this picture, of course, is that Nabucco still doesn't have any actual gas to transport. Thanks to all the extra time, what with not having to sign up actual gas supplies, Team Nabucco has put all of its efforts into creating a really awesome brand logo.
For its part, Nabucco consortium member OMV is telling anyone who will listen that the company now expects to pump 31 bcm a year out of Kurdistan. Conveniently, this is exactly enough gas to fill all three phases of the Nabucco project. Too convenient, we suspect, especially since Nabucco's projected cost (now with Iraqi gas) remains unchanged.
But don’t let the details get in the way. If worse comes to worse, the Bulgarians can just burn the Nabucco brand logo to keep warm this January.
6 comments:
Can't it be both?
It sure looks like it.
At a conferece today in Washington,it was said that Iraq has enough gas reserves to fill 5 Nabuccos...if they didn't need any of it for domestic consumption, of course.
And the fact that we're now looking at Iraq as the answer to Europe's quest for energy security should say volumes.
Plus, J, there are *major* issues between Baghdad and the Kruds regarding energy exports.
Looks like they stole the logo design from the St. Louis Arch.
Nord Stream should thus be the Nike swoosh.
The arch! I never thought of that until now.
Maybe Nabucco will also stand for 1,000 years, or at least until someone blows it up.
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