It is less than a year now until the launching of the Nabucco project, which is supposed to reduce the European Union’s (EU) dependence on Russian gas. However, despite an agreement with Azerbaijan and pressure by Brussels, neither suppliers nor investors are known yet, reports Nouvelles d`Arménie. Although legally well-based, and provided with €200 million aid by Brussels, the project still lacks gas guarantees, which is the key element.

No contract has so far been signed with the operators involved in this significant European project of gas transport from the Caspian region to West Europe through Turkey, bypassing Russia and Ukraine. The issue of supply will be specified soon, Reinhart Mitsche, the head of the consortium, said in an interview with France-Presse.

Jose Manuel Barroso, President of the European Commission, announced an agreement with Azerbaijan, in mid-January.

However, neither the amount nor the terms have so far been specified. Shuffling the cards in favor of its strategy, Baku has promised billions of cubic meters to Russia and Iran.

For Azerbaijan to supply its gas to Nabucco, with its annual capacity of 31 billion cubic meters, the Shah Deniz 2 gas field has to “produce”. However, it has been postponed until 2017, Thierry Bros, an analyst for Société Générale, notes pessimistically.