Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
  • there's only 5-10bcm/y of Azeri gas that can be procured (no prodction to speak of beyond that, after taking into account local needs) - and it's already sold to Turkey;
  • Iran has huge reserves, but not much production capacity, relatively speaking - and most of the gas is used domestically (as reinjections to support oil production, or for domestic use). It has been unable to come to terms with the requirements of long term supply contracts. It has very little infrastructure going towards Turkey (and it's really hard to get them to build more, for various reasons. There is one pipeline, and one contract to Turkey, and supplies have been notoriously unreliable. so, not an option in the medium term, even without the context of the sanctions;
  • Turkmenistan does not have the productino capacity to fill up the Russian pipeline... it has been very difficult to negotiate with, making commitments to various parties that are obviously incompatible.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Sun Aug 31st, 2008 at 04:43:02 PM EST
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