Nabucco — arguably the most important energy project undertaken in EU history, was meant to bestow similar salvation on a continent becoming dangerously dependent on Russian gas. The pipeline would wean the EU off Moscow, which already accounts for a third of its imports, both by creating a major route along which non-Russian gas could flow and, more importantly, breaking Russia's stranglehold over transit from the east, The Telegraph informs.

“Russia has not been shy of using its energy might to achieve its political goals. Both Ukraine and Belarus have seen their gas supplies severed as Russia has sought to reassert its influence over what it calls its ‘near abroad’.

Construction is due to begin next year, with the first gas expected to flow in 2014. Some observers hope that the finalization of Nabucco will teach the Russians that aggression is not always the best policy,” the source reads.