BAKU, Azerbaijan, Aug. 1 (UPI) -- The planned Nabucco natural gas pipeline for Europe is the best option for Caspian and downstream consumers in the long run, an official said.
The European community is pressing for the Nabucco pipeline to break the Russian grip on the regional gas sector. Despite political backing for the project, however, it's faced with difficulties in securing official agreements from supplier nations, notably Azerbaijan.
Christian Dolezal, a spokesman for the Nabucco pipeline consortium in Vienna, was quoted by The Wall Street Journal as saying his project was one of the best options for all parties involved.
"A large pipeline (like Nabucco) is in the long run … much more cost-effective because it will transport larger volumes and will therefore bring more revenue to suppliers and sponsors," he said.
The $11.5 billion Nabucco project would extend about 2,000 miles through Turkish territory to Austria by crossing Romania, Bulgaria and Hungary.
Elshad Nassirov, a vice president at the State Oil Co. of Azerbaijan, said that while Baku was interested in a potential stake in Nabucco, something smaller might be better for his country.
"We don't want to have a deal to pay for capacity we don't need," he told the Journal.
