The pipeline has been conceived over a long period of time but the need to hasten the process was warranted after Russia had shut off its gas supply to Europe that passes via Ukraine. EU to an extent was at the recieving end and had felt the harsh consequence of Russia wrath towards Ukraine.
Suffice it to say that the Nabucco gas pipeline is a worthy project because it allows for more gas supply into the global market. But Russia who is a major player in the region will not fold its arms without influencing the impact of the project. Just recent, Russia had agreed to buy a large part of the Azerbaijan oil and gas and to involve Azerbaijan in another pipeline alternative that passes from Russia to Italy.
Azerbaijan despite rich with oil and gas deposit is not a part of the major supplies through the Nabucco pipeline. The supplying nations will be Kazakhstan, Uzbekistan, and Turkmenistan. The Azerbaijan oil minister has recently expressed willingness of Azerbaijan to join in the supplying nation while the Turkey minister is pushing for Iran to be included.
The major signees in the agreement are Bulgaria, Austria, Hungary, Romania and Turkey. The 3,300km pipe will carry gas directly to Austria by passing Russia. The project is expected to become fully operation by 2014 and is estimated to cost about 10.6 Billion USD.
