The construction of the Nabucco pipeline, slated for completion in 2012, is part of the effort to reduce European dependence on Russian gas amid concerns and fears that Russia, the supplier of between 30 and 40% of Europe’s natural gas, will use its economic leverage for political gains. However, recent developments in Turkmenistan, China, Iran, Turkey, and Europe itself, raise many questions and uncertainties regarding the future of the Nabucco pipeline. What are the new implications of and aims for building such a pipeline? Is continued construction necessary? What are the benefits and dangers of using the Nabucco pipeline—or rather the promise of its discontinuation—as a political bargaining chip? Steve LeVine, foreign affairs and energy correspondent for BusinessWeek and author of The Oil and the Glory and Putin’s Labyrinth, joined the Council and the Young Professionals International Forum (IF) last night to share his thoughts and insights into pipeline politics and Russia’s new energy diplomacy. Full program recordings will be available soon at our online archive.
For more on pipeline politics, check out this article from Deutsche Welle on the recently signed agreement between Russia and Turkey to build the South Stream pipeline, a new rival to the Nabucco pipeline.