German company RWE quits the Nabucco pipeline's consortium because of expensive costs and uncertain realization's time. The growing possibilities the Trans Adriatic Pipeline has got, and the permanence of Russia's energy hegemony on the EU.
More and more expensive prices and an uncertain construction's date are the motivations German energy company RWE argued in quitting Nabucco pipeline.
On Monday 12/3, RWE decided sell all the stakes in the Nabucco pipeline to Austrian company OMV. According to the Financial Times, RWE company decided to quit the Nabucco because of expensive investments and an uncertain timetable of the pipeline's construction.
As Natural Gas Europe noticed, RWE is not the first energy company which criticized Nabucco consortium. In January 2012 also Hungarian company MOL argued similar critics towards Nabucco, and also thought about the possibility to quit the pipeline.
Nabucco has been conceived by the European Commission in order to carry 30 bcm of Azeri gas per year in Austria from Turkey via Bulgaria, Romania and Hungary.
Nabucco has been planed to diversify EU gas supplies from Russia's monopoly - Russian gas supplies cover the 40% of Europe's gas need.
As Bloomberg reported, on Monday 12/3 EU Energy Commissioner Gunther Oettinger endorsed the necessity the EU has to carry Azeri gas in Europe, in order to ensure the EU member states the energy security.
In addition to the European Commission, Nabucco obtained the political support of Austria, Turkey, Hungary, Romania, Poland, Bulgaria, Czech Republic and Slovakia.
Nabucco pipeline's shareholders are Austrian company OMV, Hungarian MOL, Romanian Transgaz, Bulgarian Bulgargaz and German RWE.
The fall of Nabucco does not means the fall of EU energy policy. In addition to Nabucco, also the Trans Adriatic Pipeline - TAP - has been planed to deliver 21 bcd of Azeri gas in Europe from the border between Turkey and Greece to the Italian Apulia region via Albania.
TAP, which has now big chances to become the most important pipeline to carry in Europe Azerbaijan's gas, will make Italy the most important hub of the Azeri gas in the EU, creating new job places and fostering Italian government's position in the European Union.
From the political point of view, TAP is supported by Italian, Greek and Albanian governments. On Monday 12/3, Italian vice-minister of the Economic Development Claudio De Vincenti declared to ASCA news agency that the Italian government will ensure TAP realization, in order to guarantee the EU Azeri gas supplies.
TAP shareholders are Norwegian concern Statoil, Swiss company EGL, and German company E.On. Moreover, British energy concern BP and the second Italian company Enel also declared their interest in buying TAP stakes.
In the contrary of Enel and Italian government's positions, Italian energy concern ENI supports the Southstream pipeline's realization.
Southstream has been planed by Russian national major Gazprom, in cooperation also with German company Wintershall and French company EDF, to deliver in Southern Europe and in the Balkans 63 bcd of Russian gas per year.
Southstream is a Russia's political project which ensures Moscow the political hegemony on Europe: it increases EU energy dependence on Russian gas supplies and blocks the realization of Nabucco and TAP.
Despite of the European Commission's opposition, Germany, France and Italy former Berlusconi's government agreed with the President of Russian Federation Vladimir Putin on the realization of the Southstream.
Matteo Cazzulani
