13 November 2008

EU unveils plan to reduce Russia’s grip on energy

The European Commission on Thursday proposed building new pipelines to the Caspian region as the centrepiece of an energy security plan that seeks to reduce member states’ reliance on Russia.
The proposals, released on the eve of Friday’s EU-Russia summit in France, envisage a corridor of pipelines that would carry gas from Azerbaijan and Turkmenistan into the EU, and the possible creation of a European consortium to purchase gas from the region.

Joshua Chaffin - FT.com