EU pushes harder for Nabucco pipeline

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BRUSSELS – The European Commission is planning to allocate nearly € 200m (US $273.2m) to support the Nabucco gas pipeline, CA-news.org reported March 9. The pipeline’s planners hope to deliver Azerbaijani and Turkmen gas to Europe and bypass Russia in doing so.

The pipeline is estimated to cost US $11.8 billion, which the pipeline consortium is expected to borrow from international institutions.