Today the gas pipeline Nabucco is probably the most important Western energy project in Eurasia. If implemented, it would significantly reduce energy dependence of the EU on Russia. Therefore Nabucco acquires a wide geopolitical dimension exceeding its possible economic benefit. READ MORE

Last month, the West officially lost the new "Great Game." The 20-year competition for natural resources and influence in Central Asia between the United States (supported by the European Union), Russia and China has, for now, come to an end, with the outcome in favor of the latter two. Western defeat was already becoming clear with the slow progress of the Nabucco pipeline and the strategic reorientation of some Central Asian republics toward Russia and China. Two recent events, however, confirmed it. READ MORE

Azerbaijan’s ongoing dispute with Turkey about transit terms and revenues for natural gas heading to Europe across Anatolia, as well as uncertainties about the Nabucco pipeline project, have compelled highest-level officials at Azerbaijan’s State Oil Company (SOCAR) to publically consider the option of exporting hydrocarbons eastward, potentially to China and other East Asian markets. However, as Baku would have to surmount significant hurdles to make that proposition a reality, it remains to be seen whether a reorientation of Azerbaijan’s energy posture is in the cards, or whether this is just rhetoric to spur the development of Western-oriented projects. READ MORE

Having visited Washington and New York a couple of times in the last months Rumiana Jeleva, Bulgaria’s Foreign Minister and now Europe’s potential European Commission Commissioner for International Cooperation, Humanitarian Aid and Crisis Response, spoke to New Europe about the shifting geopolitics of gas and the South East Europe region. READ MORE