Russia and Iran lead the new energy game

[Dover]

THE ROVING EYE
Jul 14, 2006

Russia and Iran lead the new energy game
By Pepe Escobar

Whatever the West may have thought about it, Russian President Vladimir Putin has already spectacularly preempted this weekend's Group of Eight (G8) summit in St Petersburg with his own bit of Pipelineistan news. Putin announced in Shanghai on June 15 that "Gazprom is ready to support the construction of a gas pipeline from Iran to Pakistan and India with financial resources and technology".

He was referring to a fabled US$7 billion, 2,775-kilometer, 10-year old project - an Iranian idea - which should now be finished by 2009, developed by Gazexport, a Gazprom subsidiary. As a result, by 2015 both India and Pakistan should be receiving at least 70 million cubic meters of natural gas a year.

Thus the two top global gas producers - Russia and Iran - reached a strategic partnership abiding not only by their own interests but the interests of India, Pakistan, China and part of Central Asia, something that spells nothing less than an auspicious economic future for a great deal of Asia - independent from any American interference. Washington was not amused.

Not surprisingly, everyone else in the region begged to differ. For Iran this represents the coveted Pipelineistan way to the east. India will save at least $300 million a year. Pakistan will receive as much as $600 million a year in transit fees. The pipeline will inevitably be extended to Yunnan province in China. No wonder the announcement was made at the annual meeting of the Chinese-inspired Shanghai Cooperation Organization...cont'd

http://www.atimes.com/atimes/Global_Economy/HG14Dj03.html

[leveymg]

1. Looks like Enron's not going to lead that consortium.

But, hey, they did manage to suck billions out of the U.S. economy while the show lasted.

Dubya and Dick - it really is time for you to fold your tent, while there's still a tent left to fold. Follow Kenny Boy out into the wilderness, and please don't come back.