The Most Compelling Reason to Back Nabucco

Many of Gazprom’s arguments and excuses that they should be the monopoly exporter of Central Asian natural gas to Europe has depended upon the low prices they have been able to secure. Europe should not worry about this, they argue, while at the same time the pull every maneuver conceivable to prevent the development of alternative export routes, from premature contracts at places like the Shtokman Field, empty MoUs with exporters like Algeria, and the mega-project noose which is on the verge of strangling Europe: The Nord Stream and South Stream pipeline projects. However today, we see some news that should serve as one of the most compelling reasons to back the Nabucco pipeline and open up other possibilities to export Central Asian gas directly to Europe, creating once again a competitive market.