NABUCCO continues to struggle

One of the largest German energy companies, RWI, is considering withdrawing from the NABUCCO gas pipeline project, due to increases in cost.

According to estimates, instead of the initial Euro 8 billion price tag, the cost has almost doubled to Euro 15 billion. So far, no viable agreement with either Azerbaijan or Turkmenistan has been achieved, in order to secure Caspian gas for transport to Europe bypassing Russia.

Last month, Austrian company OMV also suggested their possible withdrawal from the project. The Hungarian Prime Minister has similarly expressed reticence to continue.