Nabucco: Flop for OMV and EU

People ♦ Published: June 27, 2013; 13:36 ♦ (Vindobona)

Petrom will resume exploration drilling in offshore Black Sea block.

Nabucco: Flop for OMV and EU / Picture: ©

The alternative pipeline for the OMV’s project “Nabucco” will now pass by Austria; it is a flop for OMV as around € 50m in planning costs are gone and Russia remains the supplier for Austria – via a single rusty pipe.

The award of contract was given to OMV’s competitor TAP (Trans Adriatic Pipeline) by the international Sha Deniz consortium, as reported by Athenian…