Local view for "http://purl.org/linkedpolitics/eu/plenary/2006-07-03-Speech-1-031"
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"en.20060703.12.1-031"2
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"The Memorandum of Understanding concerning the implementation of the Nabucco gas pipeline project was signed in Vienna over the past week. This is obviously good news, at a time when we continue to receive mainly negative news from the natural gas market.
Following the supply problems experienced at the beginning of the year, further problems are predicted for winter, and prices are rising; also, in a manner not unrelated to this, Russia is using its position as a gas supplier as one of its political instruments, in an increasingly obvious fashion. Therefore, the vulnerability of Europe and European consumers is continuously increasing.
In this situation, the twenty to thirty billion cubic metre capacity of the Nabucco pipeline would tangibly increase gas supply security in the European Union within a decade. This would be due to the fact that Nabucco provides a simultaneous diversification both in respect of the transit route and the source of procurement, compared with other proposals that would only provide an alternative transport route for the existing infrastructure.
Therefore, we should welcome the Memorandum of Understanding signed last week, and we can state that at this time, Nabucco does not have any real competitors in terms of increasing the European Union's natural gas supply resources."@en1
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