The European Union, as the third most important consumer of gas in the World, after the USA and the ex-Soviet Union, is heavily dependent on gas imports. Russia, as the most important gas exporter to Europe has turned into an unreliable trading partner, following the gas disputes of 2006 and 2009.It is in this context that as part of its policy of energy security, Europe is attempting to diversify its sources of energy, notably natural gas. The idea of constructing a Pipeline that does not originate from Russia and does not cross unstable Ukraine is one such measure. The Nabucco line has to be understood in this context.Despite initial indications from European countries that Iran should participate in the project, eventually the Nabucco line contract was signed in Turkey without Iran's participation. This study is focused on determining whether the participating countries can provide the required volume of natural gas to make full use of the Pipeline. In case this is possible, the study assesses the consequences for Iran of being absent from the project.