RWE quits the Nabuko project

, SEE Energy News


German Energy Company RWE sold its shares in Nabuko project and so Germany went out of this pipeline construction project.

RWE sold its participation of 16,67% to Austrian Company OMV and it isn’t published at which price- Russian magazine “Komersant” reports the statement from German Energy Company.

And so those who remained in Nabuko project are: Austrian OMV, Bulgarian Bulgargaz, Romanian Transgaz, Turkish Botas and Hungarian MOL.

Nabuko supposed to be the main competitor to the South Stream pipeline. However, the project was reduced in the meantime because of disability to provide stable gas resources and because of high expenses that grew two and a half times: it won’t connect Asia and Europe any more but only Bulgaria and Austria. Its capacity won’t be 31 billion of cubic meters of gas but neither the length will be 4000 km but less than a half of it- Russian media noticed.

Source;Serbia Energy See desk