Nabucco pipeline will not become operational in absence of Iran?

PanARMENIAN.Net - A senior Iranian energy official said Tehran was holding "unofficial" talks with some European firms about its participation in the 7.9 billion euro Nabucco gas pipeline project, a news agency reported on Saturday.



Iran sits on the world's second-largest natural gas reserves after Russia but has been slow to develop exports, partly because of U.S. sanctions hindering access to needed technology.



Turkey has said Iranian gas can help the planned Nabucco pipeline, which is backed by the European Union, to supply Europe and lessen the continent's dependence on Russian deliveries.



"Definitely, the Nabucco pipeline will not become operational in the absence of Iran," said Reza Kasaeizadeh, managing director of the state National Iranian Gas Export Company.



"Unofficial negotiations between some European companies and Iran on the pipeline have begun," the semi-official Mehr News Agency quoted him as saying. He did not name any of the countries.



Any such discussions may cause concern in Washington, which is embroiled in a long-running row with Tehran over the Islamic Republic's disputed nuclear program.



Nabucco's current shareholders include Austria's OMV (OMVV.VI), Hungary's MOL MOLB.BU, Romania's Transgaz TGNM.BX, Bulgaria's Bulgargaz, Turkey's Botas and Germany's RWE (RWEG.DE), Reuters reported.