Nabucco: a short sighted answer to the energy security challenge - EBRD AGM Issue Paper

Both EBRD and EIB consider support for the construction of the Nabucco gas pipeline. But proponents of the project successfully avoid several important issues. Among them are the human rights records of the potential partners Turkmenistan and Azerbaijan, both ranked among the most authoritarian regimes in the world.

There is also a major risk that in order to quickly use EU funding, the environmental and social impact assessments will have to be conducted in a rush and will omit the impacts on the Caspian Sea, the largest lake in the world. So far, it has not been demonstrated if there is an economic as well as development justification for the project.