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Europe's Energy - Breaking new grounds: Nabucco gas pipeline deal is signed by five EU countries and Turkey

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Constanze TressJuly 13, 2009

The Nabucco gas pipeline deal signed today by five EU countries and Turkey is aimed at increasing Europe's energy security. The European Union is a huge consumer of gas - almost 1 and a half Billion cubic metres a day, in fact. And consumption is climbing steadily. Europe itself has nowhere near enough gas reserves to cover its own needs - so about sixty percent of the natural gas consumed in the EU is imported. Analysts point out that that makes the European Union very dependent on other countries - and on one country in particular.

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