some how I don't think your uncel was out shooting. You are a sad case but not a nut case. Of course you might take a shot at me if you had the chance . How is the scotch ageing?
South stream without doubt, it is shorter —900km??, beside Nabucco "3300km" major problem is to how to fill the pipe with the gas. So far, only Azerbaijan has signed on to providing gas for Nabucco.
So, its just —wait and see?? games right now while Europe freezing to death.
Russian gas delivery to Europe is about % 80 and Norway can't fill gas gap in Europe caused by Russian halt.
Here is some report from gas and oil.com
Norway probably holds about 50 % of Western Europe's oil and gas reserves, and at the end of 2007 there were 56 discoveries yet to be approved for development. Oil production peaked at 3.5 mm bpd in 2000, and in 2008 total liquids production is likely to be some 2.5 mm bpd.
Norway retained its status in 2007 as the largest gas exporter in Western Europe, at 89 bn cm, up from 87 bn in 2006. Furthermore, gas production is forecast to increase to around 99 bn cm in 2008 and in the words of the oil minister "expected to stay at today's level for the next 10 years." Douglas-Westwood's view is that the gas potential may still be understated.
During the course of 2007, eight plans for development and operation (PDO) were approved for nine new deposits. Around 10 PDOs are expected to be submitted to the authorities in 2008.
The largest discovery for which a plan is expected towards the end of 2008 is 7122/7-1 Goliat, operated by ENI. However, the Norwegian Petroleum Directorate observed, "There are many problems that must be studied in connection with development of Goliat, which could lead to a postponement of the PDO." Several of these plans call for large investments in new production facilities (Gjoa and BP's Skarv, and its Valhall redevelopment. StatoilHydro is Gjoa operator in the development phase, while Gaz de France takes over when the field starts up).
Talisman received PDO approval for two developments in 2007: Yme is a reopening of a field that was shut down in 2001. The field previously produced for 5 years with Statoil as operator. Talisman is responsible for development of Rev field.
Norway has been able to manage the wealth that has been generated in such a way as to forestall offshore oil and gas -- the country's largest industry -- from overheating the economy. In addition to a policy of carefully managed reserve development, it has invested its national oil and gas profits to fund the pensions of this, and perhaps the next, generation. At the end of June 2008 the Norwegian central bank stated that the value of the government oil fund was 1.991 tn kroner (EUR 270 bn).