The European Commission may support a combination of pipelines instead of entire one to transport Caspian gas to Europe, the Energy Department of the European Commission (EC) said. "It might be a combination of pipelines [to transport Caspian gas to Europe], but they should meet our requirements," Marlene Holzner, a spokesperson of EU Energy Commissioner Guenther Oettinger, told Trend over phone from Brussels.

Azerbaijani delegation led by Minister of Communication and Information Technologies attended the 7th meeting of mixed commission on cooperation in the spheres of economy, agriculture, industry, technique and technology between Austria and Azerbaijan in Vienna, Austria. According to Ministry, current situation of bilateral commercial and economic relations, perspectives, EU-Azerbaijan links, membership of Azerbaijan to WTO were discussed at the meeting.

Nabucco consortium continues supporting the project's original conception, which envisages the construction of the pipeline from Turkey's eastern borders to Austrian Baumgarten, Reinhard Mitschek, Managing Director, Nabucco Gas Pipeline International told Trend in a statement sent via e-mail on Tuesday. "The Nabucco concept, whereby the pipeline travels from the Eastern borders of Turkey to Baumgarten in Austria continues to be our preferred option as it is a comprehensive solution for all parties involved," Mitschek said.

The eurozone should boost its bailout funds if it wants the International Monetary Fund (IMF) to make a "significant" contribution to a second bailout package for Greece, the head of the Washington-based body said early Tuesday, DPA reported. Christine Lagarde was asked to comment on reports that the IMF would contribute less than one-third of the 130-billion-euro (172-billion-dollar) bailout bill - the share of the euroarea rescue packages it has covered in the past two years.

The consortium of Nabucco gas pipeline project proposed much smaller project than the originally planned pipeline to carry Caspian natural gas to Europe, people familiar with the discussion told Dow Jones Newswires. According to the sources, the new proposal envisages the pipeline which will only run between Bulgaria and Austria and have roughly half of the initial capacity of 31 billion cubic meters.

Turkey, which imports gas from Russia, Iran, Azerbaijan, Nigeria and Algeria, intends to purchase it in two more countries, Turkish Energy and Natural Resources Minister Taner Yildiz told journalists yesterday, the Sabah newspaper reported on Monday. "Turkey intends to sign agreements with two countries in order to diversify sources of gas imports," he said. Mr Yildiz did not name these countries and date of the signing the agreements.

There is great potential for further development of relations between Azerbaijan, Georgia and Turkey in various sectors of the economy, Minister of Economic Development Shahin Mustafayev said at the Azerbaijani-Georgian-Turkish business forum in Tbilisi yesterday. "The issues discussed at the Forum, and bilateral meetings will promote further development of trade and economic relations between the three friendly countries, as well as create conditions for the expansion of networking between businessmen," Mr Mustafayev said.

Iran bought almost half a million tonnes of wheat this week, traders said on Thursday, with private buyers also in talks to import further tonnage from Russia using roubles as payment, as the Islamic republic works around Western sanctions, Reuters reported. Tehran has dramatically widened its footprint on international grain markets, having bought a total 1.1 million tonnes in the past two weeks, deploying non-dollar currencies with dealers also reporting talk of barter deals involving oil and gold.

Robert Zoellick said in Washington he will resign as World Bank president in June, noting the international lending institution is strong and healthy. Zoellick will leave at the end of his five-year term and the administration of U.S. President Barack Obama was expected to name a successor soon. Zoellick’s leadership of the bank, based in Washington, was particularly notable during the global economic crisis, during which the institution came up with record replenishments to provide more than $247 billion to help developing countries boost growth and overcome poverty.

On February 20, under the support of the Ministry of Economic Development and Azpromo, the entrepreneurs of Azerbaijan and India will hold bilateral meetings in Baku. The event will be attended by 15 Indian entrepreneurs acting in the areas of real estate, construction, energy, etc.