Iran To Become Main Supplier For Nabucco Pipeline

Iran, Turkey and Austria are continuing their negotiations over a potential three-way joint venture (JV) to transport gas from Iran to Western Europe through the Nabucco gas pipeline. As a result of the JV, Iran could provide more than 50% of the 30bn cubic metres (bcm) Nabucco pipeline capacity, according to a senior Turkish energy official. The pipeline is seen as a vital part of the European Union's (EU) strategy to diversify gas supply routes and to reduce dependence on Russian gas supplies and transit routes.

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