 The Guardian: Nabucco costs double February 21, 2011 - 20:41 AMT PanARMENIAN.Net - Plans to build a gas pipeline to the heart of Europe to reduce dependence on Russian imports have been dealt a blow after estimated costs almost doubled. The proposed 2,000-mile (3,200km) Nabucco pipeline would transport gas from British Petroleum's $20bn (£12.3bn) new project in the Caspian Sea to Austria via Turkey and the Balkans. The consortium of European energy companies, which are competing against two smaller pipeline projects, currently estimates the cost at €7.9bn (£6.7bn), according to the Guardian. But the Guardian has learned that BP's own assessment puts the cost at around €14bn, partly because of soaring commodity prices. The price of iron ore, a key ingredient for steel, has increased by half in the past year. Doubts are already growing over Nabucco's viability because it aims to draw in gas from undeveloped fields in Turkmenistan and Iraq, as well as Azerbaijan.   Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot".   Partner news |  Latest news Armenia border residents dissatisfied with delimitation  Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan.“Great success”: Pashinyan pleased with new border protocol Pashinyan has described the signing by Armenia and Azerbaijan of a protocol on delimitation in Tavush as “a great success”.Armenia, Azerbaijan sign protocol on demarcation coordinates Armenia’s government took on May 15 another step towards handing over four border areas to Azerbaijan.Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children |
