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Turkmenistan grants rights to Nabucco partner Add to ...

Energy-rich Turkmenistan gave Caspian Sea exploration rights to a member of the Nabucco pipeline consortium yesterday, the latest sign that it is seeking to diversify export routes away from Russia. Turkmenistan granted the rights to German firm RWE AG, RWE a member of the Nabucco project which is seeking to build a pipeline to transport Central Asian gas to Europe on a route that bypasses Russia. The Central Asian country is locked in a row with Russia over a pipeline explosion on its territory last week that halted natural gas exports to Russia. Moscow has a virtual monopoly on the export of Turkmenian gas through its state-run Gazprom. RWE (Frankfurt) rose 79 euro cents to €57.50 ($91.58).

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