EU ROUND UP
January 1st, 2005
BY KEITH NUTHALLWHILE discussions continue over how to ensure the security of energy supplies to the European Union (EU), Brussels institutions are sinking money into one sure bet, eastern Europe and the former Soviet Union. The European Bank for Reconstruction and Development (EBRD), for instance, is lending US$170 million to SOCAR, the State Oil Company of Azerbaijan, to fund two Caspian gas projects. US$110 million will help develop the Shah Deniz gas field and US$60 million the South Caucasus gas pipeline, being built along the Baku-Tbilisi-Ceyhan oil ...
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