The Trans-Adriatic Pipeline is a key element of Azerbaijan’s efforts to export its greatest source of wealth, its Caspian Sea natural gas deposits, to European markets. It is also a cornerstone of the European Union’s strategy to weaken Russia’s hold on European gas markets. The pipeline’s route, however, passes through ancient olive groves and over pristine beaches in the Italian region of Puglia, which relies on that bucolic landscape for its major industry, tourism. That has set up a standoff between global energy interests and local environmental activists. And with a December referendum in Italy that reinforced local governments’ autonomy, the anti-pipeline activists have – if only temporarily – gained the upper hand. The pipeline is currently under construction by a consortium of companies, with Azerbaijan’s state energy company SOCAR holding a 20 percent share. The European Bank of Reconstruction and Development is considering a EUR 2 billion loan […]