Why do we need Nabucco?

With the gas crisis in the winter of 2008/2009, European consumers experienced first-hand why Europe needs more diversified gas import routes and gas sources, to provide Europe with gas supply alternatives when and where required. Against the background of a renewed threat of supply interruptions, Nabucco will offer both access to new supply sources and a new gas import route for at least 150 million EU citizens.
Europe, i.e. the 27 EU countries, currently consume around 522 billion cubic meters of gas a year. Europe is the largest interlinked natural gas market in the world. This opens up significant opportunities to the countries of the Caspian region and the Middle East. They will not only gain Europe as a new market for their gas, but also increase their attraction for investors, gain technical expertise and provide impetus for further economic growth.
Europe's dependency on gas imports will grow as domestic gas production will decrease by two thirds by the year 2030. During the same period, however, gas demand will increase by one third. These countermovements will inevitably lead to growth in the demand for natural gas imports.
For these reasons, the Nabucco pipeline will offer an important infrastructure link between a region with rising demand and dwindling resources – Europe – and a region with the world’s largest combined gas reserves (some 89 trillion cubic metres) - the Caspian countries and the Middle East (source: BP Statistical Review 2010).
Countries such as Azerbaijan and Turkmenistan have repeatedly and clearly stated that they wish to diversify their export routes and sell gas to Europe to offer better security of demand and price.
Turkey, as a Nabucco partner, will gain considerably from the pipeline, reinforcing its role as a major energy transit point. With gas from new producer countries and interconnection with the large European market, Turkey will see more liquidity in its energy market.
Nabucco will enhance competition and a variety of choice.

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