Schroeder said he does not disagree with the Nabucco pipeline project, but it should include Iran among its suppliers in order to have enough gas resources, although the USA disagrees with it. At the same time, the projects supported by Russia, Nord Stream and South Stream, have already ensured the necessary quantity of gas, unlike Nabucco.
Schroeder is chairman of the shareholders’ committee of the Nord Stream gas pipeline.
The South Stream project, developed by Italian energy company Eni and Russia’s Gazprom, is a proposed gas pipeline to transport Russian natural gas to Italy, and is considered the main competitor of Nabucco.
Nabucco, linking Turkey to Central Europe via Romania, aims at supplying natural gas from the Caspian Sea to Central Europe via Turkey and Romania, bypassing Russia.
Schroeder added that there is a mutual dependence between the European Union and Russia, as Europe needs energy from Russia, while Russia needs to sell oil and gas on European markets.
The former German chancellor also said the EU will not be able to solve its political and energy problems without Russia’s support..
South Stream is estimated at EUR10 billion, and Gazprom has already inked deals with Bulgaria, Serbia, Greece and Hungary for its development.
In October, Romanian Economy and Finance Minister Varujan Vosganian said Romania is ready to support the construction of both EU-backed Nabucco and the South Stream gas pipeline projects.