Nabucco Rides On 07/13/2009
On Monday representatives from Turkey, Austria, Bulgaria, Hungary, and Romania signed a transit agreement in Ankara.
The move represents a small but important step forward for the Nabucco project. Infighting over the preceding months had all but doomed the pipeline. But Azerbaijan's recent agreement with Russia forced Turkey to abandon its harsh negotiating position, effectively ending the deadlock.
What the Nabucco nations must do now is build on this momentum. Both Azerbaijan and Turkmenistan have recently reaffirmed their interest in the project. It is essential that Nabucco get firm commitments from these countries within the next few months to capitalize on Gazprom's overextension.
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