Turkey: South Stream Progressing - Nabucco at a Standstill

A decision from on the South Stream project may be ready for next week, while progress on the Nabucco pipeline remains slow,Turkish Prime Minister Recep Tayyip Erdogan has said.

Turkey is currently in talks with Russia over the construction of the Nabucco pipeline, which may be built in the Turkish area of the Black Sea. "In a week the matter of this project [the South Stream pipeline will be specified," he said.

While planning and discussions on that pipeline progress, Prime Minister Erdogan says that it is still waiting on movement from the EU to begin construction on its portion of Nabucco.

"At present, it all depends on Europe, which should assume financing costs of the project," he said.

However, Turkey was still awaiting the funding for the project and for suppliers to be confirmed before it could begin any construction.

"Sufficient sources have not been found for Europe-required 30 billion cubic metres of gas a year gas for Nabucco," he said.

"In addition, there are also questions on financing the project by the EU. Turkey is a project participant, and a big part of the pipeline will run through our territory. Turkey is fully ready for the project implementation, while the EU has not been yet. We have not received funding."

Turkey is keen to begin work on the pipeline as it feels this would improve its chances of entering the European Union, a goal that it has been working towards for many years.

Prime Minister Erdogan has previously said that the building of the pipeline would unite Turkey with Europe and prove that it should be a member of the European Union.