EU’s Iran sanctions threaten Nabucco pipe, Sueddeutsche reports

Bloomberg: European Union sanctions against Iran threaten the planned Nabucco pipeline to ship natural gas from the Caspian region to Europe, Sueddeutsche Zeitung said, citing an internal EU paper.

By Nicholas Comfort

Oct. 12 (Bloomberg) — European Union sanctions against Iran threaten the planned Nabucco pipeline to ship natural gas from the Caspian region to Europe, Sueddeutsche Zeitung said, citing an internal EU paper.

Iran holds a 10 percent stake in Azerbaijan’s Shah Deniz gas field, which may help supply Nabucco, through state-owned Naftiran Intertrade Co., the newspaper reported.

The current draft of the sanctions forbids investments and the supply of equipment for exploration should they be destined for ventures in which Iran holds a stake, Sueddeutsche said.

BP Plc, Statoil ASA and Total SA are among the Shah Deniz shareholders.