EU Seeks Caspian Gas Accord to Lower Dependence on Russia

EU Seeks Caspian Gas Accord to Lower Dependence on Russia

The European Union is seeking an agreement on a natural gas pipeline between Turkmenistan and Azerbaijan as the 27-nation bloc aims to import Caspian fuel and reduce its dependence on Russia, Bloomberg reported on Wednesday.

The EU regulator's energy unit drafted a document that the parties could use as the basis for a deal on building at least one pipeline across the Caspian Sea, Bloomberg said, quoting a copy of the non-binding paper it had obtained.

The EU wants Turkmen gas for the Nabucco pipeline, which is worth an estimated 7.9 billion euro ($10.4 billion) and is planned to stretch more than 3,300 kilometres from Turkey to Austria to send gas to Europe.


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