Hungary doubts Nabucco pipeline, says cost soars
Hungary's Minister For National Development on Monday questioned the viability of the Nabucco gas pipeline, saying it lacked a firm commitment from buyers and sellers of gas , and said the cost of building it could almost quadruple to 26 billion euros, Reuters reported.
"It is fully in the fog what the ultimate price of Nabucco will be," Tamás Fellegi, who has authority for energy matters, told a briefing for reporters in London, citing what he described as an 'optimistic' price range of 24-26 billion.
A spokesman for the Nabucco consortium, which is led by Austria's OMV , said the minister's estimate was "random" but added the consortium's own 7.9 billion euros estimate was under review.
Fellegi added that he was considering suing a French utility over tax payments, accusing the group, which he declined to name, of taking out unreasonably large management fees from its Hungarian unit, thus reducing taxable profits.
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