• HSBC

Iran plans new gas link to Europe

  • Iran: Tuesday, October 14 - 2008 at 08:11

Iran plans to build a pipeline for shipping its natural gas to Europe that would be independent of the EU-backed Nabucco project, Reuters has reported, citing a senior Iranian official. Iran had previously suggested it could hook up to the planned Nabucco pipeline that is meant to bring Central Asian gas to Europe, bypassing Russia and reducing EU dependence on Moscow for energy. But analysts have said it was doubtful the 27-nation EU would support such a move, as the Islamic Republic is under UN and US sanctions over its disputed nuclear programme.

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