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EU seeks alternative gas partners Deal to boost key EU gas project
(about 5 hours later)
The EU is bringing together for the first time eight countries from Central Asia and the Middle East in a bid to speed up several gas pipeline projects. The EU has signed an energy agreement with several countries aimed at developing a "southern corridor" for gas supplies bypassing Russia.
At a summit in Prague, the EU aims to convince the states it is committed to opening a southern corridor for energy supplies that would bypass Russia. The agreement was signed by the leaders of Azerbaijan, Georgia, Turkey and Egypt at a summit in Prague.
This would be achieved mainly through the long-planned Nabucco pipeline that would bring gas from Central Asia. It commits them to speeding up the construction of a long-delayed pipeline to bring Caspian gas to Central Europe.
There has been growing unease over energy security among EU member states. The EU is anxious to improve energy security because a Russia-Ukraine row in January cut gas supplies.
A dispute over gas supplies between Russia and Ukraine in January led to shortages for millions across Europe. Key to this meeting was a commitment by Turkey's President Abdullah Gul to sign up to an agreement on the construction of the Nabucco gas pipeline by next month.
'Modern silk road' In a symbolic gesture, the agreement is to be signed in Turkey, after years of haggling over transit rules.
They call it the "modern Silk Road", and there is the promise of untold riches, or at least greater energy security, if the EU succeeds in its quest to open a new "southern corridor" for gas imports. But Mr Gul also made clear he expected some progress on Turkey's stalled EU membership talks.
The leaders of Azerbaijan, Georgia, Turkey, Turkmenistan, Uzbekistan, Kazakhstan, Egypt and Iraq will attend Friday's meeting in the Czech capital. The US, Russia and Ukraine have been invited to observe.
See Nabucco and South Stream pipeline routes See Nabucco and South Stream pipeline routes
The summit seeks to end years of haggling over the 3,300km (2,050-mile) Nabucco pipeline by convincing key suppliers like Azerbaijan and Turkmenistan that the EU is a serious customer; promising a quick energy deal with Iraq; and putting pressure on Turkey - which is both the main transit country and an EU candidate - to agree a deal by June. It is hoped the Nabucco pipeline, which will stretch for 3,300km (2,050 miles) between Azerbaijan and Austria, will start pumping gas by 2014.
But Russia, which supplies one-fifth of Europe's gas, is nervous about any pipeline it does not control and its deputy energy minister repeated long-standing concerns about Nabucco.
The representatives of Kazakhstan, Turkmenistan and Uzbekistan refused to sign the agreement in Prague, because - diplomats said - of Russian pressure.
Iraq, which was also invited at the meeting, did not send anyone, although it is expected to sign an agreement on energy with the EU soon.
The EU's new "southern corridor" has been dubbed the "modern Silk Road".
A Czech official involved in the talks said the EU had no time to lose.A Czech official involved in the talks said the EU had no time to lose.
For 15 years, he said, the EU had just been talking and not being serious - now it has to put its money where its mouth is.For 15 years, he said, the EU had just been talking and not being serious - now it has to put its money where its mouth is.
Otherwise, he warned, Central Asian countries would be pushed to sell their gas to Russia and energy prices in Europe would skyrocket.Otherwise, he warned, Central Asian countries would be pushed to sell their gas to Russia and energy prices in Europe would skyrocket.
Work is scheduled to start on Nabucco in 2011, with the first gas deliveries expected in 2014. It is expected to cost about 10bn euros (£8.9bn; $13.4bn) and should supply up to 31bn cubic metres of natural gas annually - no more than 5% of EU gas needs. Work is scheduled to start on Nabucco in 2011. It is expected to cost about 10bn euros (£8.9bn; $13.4bn) and should supply up to 31bn cubic metres of natural gas annually - no more than 5% of EU gas needs.
The EU will also reiterate at the summit its support for the Inter-Connector pipeline linking Turkey to Italy via Greece, and White Stream, which would run from Georgia to Romania via the Black Sea. The summit also considered plans for an Inter-Connector pipeline linking Turkey to Italy via Greece, and White Stream, which would run from Georgia to Romania via the Black Sea.
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