Kurdistan’s gas resources to European states as an alternative to Russia Thursday, August 26th 2010 12:33 PM Erbil, Aug. 26 (AKnews) – The Kurdistan Region's economic and political situation will transform to a new stage by connecting Kurdistan gas line to the Nabucco pipeline, said the deputy chief of financial commission in Kurdistan’s parliament on Wednesday. "The European countries will need Kurdistan Region's produced gas in order to save themselves from the high demands on the Russian gas. The Region will begin a new phase both political and economic wise,” Said Khurshid Ahmed. The European countries have experienced frequent problems with Russia in importing natural gas from the country– especially during the winter season. Ahmad stated that the Kurdistan Regional Government (KRG) has not presented any proposals to the parliament regarding connecting Kurdistan to Nabucco gas pipeline. Participants in the strategic energy project have indicated their agreement to include Kurdistan in the project by establishing two pipelines, one from Iraq and another one from Georgia which will be connected to the Nabucco pipelines in Turkey. “In regards to financial support, European states will provide the fund for 31 billion cubic meters of natural gas annually.” Abdul-Wahid Taha, an economist, said, “The economic situation in Kurdistan will be transformed by connecting gas pipelines through foreign countries. This will provide a financial source for Kurdistan and Iraq as well.” Speaking to the media earlier, Kurdistan’s minister of oil and natural resources, Ashti Hawrami, said the Kurdistan Region has 45 billion barrels of crude oil and 200 trillion cubic meters of natural gas, “sufficient to provide Kurdistan with oil and gas for the next 50 years.” European countries have planned to establish the new Nabucco pipeline project to provide them natural gases as an alternative to Russia’s gas productions. Approximately $8 billion was allocated for the first phase of the project. About 25-30 percent of Russia’s natural gad productions is allocated to European states. Ba/Sm/AKnews
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