Nabucco needs to be financially attractive project, OMV says
VIENA – Austrian energy group OMV will lose interest in the Nabucco gas pipeline project if it does not remain an attractive business proposition, Reuters reported according to the Chief Financial Officer David Davies.
"This is going to be an economic project, he told a conference call. It is a financially attractive project and if it ceases to have that quality then our interest level is naturally going to wane."
Nabucco project is designed to transport gas from the Caspian region and the Middle East to the EU countries. The project is worth 7.9 billion euro, with its construction planned to start in 2013 and the first supplies to be commissioned in 2017. The project's participants include the Austrian OMV, Hungarian MOL, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and German RWE.
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