Pipeliners

05-18-2009 - MosNews - Russia has dismissed suggestions that the signing of deal accelerating the Nabucco gas pipeline project, which could reduce Europe's dependence on Russia, is a blow for Moscow. Austria's OMV and Hungary's MOL formed a consortium with the United Arab Emirates' Crescent and its affiliate Dana Gas on Sunday to pump up to 3 billion cubic feet per day of gas from Iraq's Kurdish region. Around half that could feed the Nabucco pipeline to Europe. Russia opposes the Nabucco scheme and is developing the rival South Stream project to supply Europe, Reuters reports. Moscow signed deals to accelerate South Stream on Friday. "I don't see any tragic events (in this Iraq deal)," Alexander Saltanov, Russia's special presidential representative for the Middle East and deputy minister of foreign affairs, told Reuters on the sidelines of the World Economic Forum in Jordan Sunday. Supplies from Iraq's Kurdistan region through Nabucco would not make Russian gas supplies any less attractive to Europe in the future, Saltanov said. Europe relies on Russia for around a quarter of its imports. Russian supplies to Europe were briefly cut last winter due to a dispute with Ukraine, leaving thousands without heating and adding urgency to Europe's search to diversify gas sources, Reuters adds.