
BATUMI, Georgia, Jan. 15 (UPI) -- A regional energy summit in Georgia lost steam when Ukrainian President Viktor Yushchenko's departure caused a rush for the door.
The summit concludes Friday with a lull in political support for oil and gas pipelines in Europe that would ease regional dependency on Russian reserves.
Yushchenko pulled out of the summit in a last-ditch effort to focus on his re-election bid for Sunday's vote. The presidents of Azerbaijan, Latvia, Lithuania, Georgia and Poland decided to cancel their visits following Yushchenko's decision. Richard Morningstar, Washington's European energy czar, pulled out as well.
Georgian Prime Minister Nika Gilauri pledged to push forward to find support for the lauded Nabucco gas pipeline and the Odessa-Brody-Gdansk oil pipeline.
Gilauri said Nabucco, which would use non-Russian gas supplies for Europe and rival the two Moscow-backed rivals, still enjoys "international support and will be built," reports Radio Free Europe/Radio Liberty.
A January 2009 gas row between Kiev and Moscow prompted Europe to scramble for alternative gas options when Russian gas giant Gazprom cut gas supplies to Ukraine in response. Roughly 80 percent of Russia's gas for Europe travels through Ukraine, and the dispute left European customers in the cold for weeks.
Investment analysts said the lack of political support at the Batumi summit suggests enthusiasm for non-Russian projects.
Supplier nations and potential customers for non-Russian projects insist, however, that the projects will move forward.
|
|
|
| Additional Energy Resources Stories | |
BAGHDAD, Feb. 10 (UPI) --
Iran has been plundering oil from southern Iraq, a theft on a grand scale that's helping Tehran withstand sanctions aimed at throttling its oil exports.
|
ARLINGTON, Va., Feb. 10 (UPI) --
The United States and Israel have flight tested the Arrow Weapon System to evaluate and verify the missile system's Block 4configuration.
|
Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
|
Doubts about the euro are not subsiding, new leadership or not, rescue plan or not.
|
| Stories | Photos | People | Comments |
View Caption