The European Union has talked lots, acted little, on coordinating energy policy for the 500-million, 27-nation, mega bloc. The specter of the Russian bear grinning as its grips Europe's energy spigot gives EU bureaucrats the heebie jeebies. But that fear, largely unfounded the Informant believes, has not translated into action. Until now, possibly. Leaders from eleven central and eastern Europe, where Russophobia is an art form, have met for a first ever energy summit, to chart a course of energy security. The big news to come out of the Feb. 24th meeting in Budapest was the signing of a declaration to create a north-south-east gas supply network.
The paperwork appears in order, let the construction begin. That's the message coming out of the Russian-led consortium to build the Nord Stream pipeline to ship Russian gas under the Baltic Sea to Europe. On February 12, 2010 -- Finland approved construction of the pipeline under their territorial waters, 374-kilometers worth of tubing. Now, the Nord Stream consortium says construction on the 1,200-kilometer pipeline will begin in April.
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