EU signals support for Nabucco pipeline

The EU president and major banks have signaled support for a pipeline to reduce Europe's energy dependence on Russian gas.
Although the commitments to the Nabucco pipeline were informal, Philipp Maystatt, president of the European Investment Bank, said his institution could fund a quarter of the €7.9 billion (348 billion ruble) project.
However, doubts persist about the availability of non-Russian gas to supply it. The pipeline would have to originate in Iran or transit Georgia, neither of which are popular options at the moment.
Russia has also proposed an alternative pipeline along a similar route to Nabucco, which the Russian ambassador to the EU has criticized.
The only difference is "that South Stream has gas and Nabucco seems not to have gas," Vladimir Chizhov said.
Many EU heads of state gave their backing for the Nabucco pipeline, with the Czech PM, Mirek Topolanek warning participants that ""our freedom and independence are at stake."
"The more we are dependent on one source ... the more susceptible we are to blackmail and the narrower our political options," he said, urging the EU Commission in Brussels - to fully back Nabucco.