Word: gas
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...Russia insists it is a reliable partner and blames Ukraine, which transits 80% of its gas exports, for the recent winter spats. Moscow's solution is to bypass Ukraine and supply Western Europe directly through the Nord Stream pipeline (to Germany, via the Baltic Sea) and the South Stream (to Bulgaria, via the Black Sea). But that would do nothing to ease the E.U.'s reliance on Russian gas, and most E.U. leaders don't see it as a viable option. Last month Barroso warned that "the E.U. must not sleepwalk into another gas crisis...
...billion cu m a year the line needs to kick off its first phase. "We don't even have a map showing us which countries will be the sources and which will be the transits," says Ana Jelenkovic, an analyst at research consultancy Eurasia Group. (Read: "Russia-Europe Gas Spat Ends...
...Turkmenistan, with the world's fourth largest reserves of natural gas, would be an ideal source for Nabucco, but it would need a pipeline under the Caspian Sea, where there is as yet no seabed agreement. At the signing ceremony on Monday, Turkish Prime Minister Recep Tayyip Erdogan also talked of supplies from Iraq and Iran, but political tensions and security concerns make them distant prospects. Even security in Turkey is an issue: last year Kurdish separatists attacked the Baku-Tblisi-Ceyhan oil pipeline, halting supplies for 19 days. (Read: "New Turkish Law Curbs Military's Power...
...also needs to reduce its overall consumption, improve its efficiency, create a fully liberalized energy market and speak as one voice when it deals with Moscow." With so much to do before the E.U. can secure its own energy future, odds are it will continue to rely on Russian gas for many years to come...
...Worthless is precisely what the entire New Fabris plant will be become, warn the firm's 336 former employees, if their demands aren't met by July 31. Dozens of gas canisters have been strung around the factory in the central town of Châtellerault, and fears are rising that, with nothing to lose, the thwarted workers might actually explode them. "If we don't get what we're asking for, there will be nothing left of the factory for them to recover," say Guy Eyermann, a New Fabris staffer and delegate of the General Confederation of Labor union...