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OMV Plans Downsizing of Nabucco

Published: April 25, 2012; 20:08 · (Vindobona)

The Austrian oil and gas group works on a downsized version of the natural gas pipeline project. The original version would become too expensive, analysts say.

OMV Plans Downsizing of Nabucco / Picture: © Flickr

The originally planned route of Nabucco has a length of 3,900 kilometers. Natural gas from the Caspian region should be transferred to Austria. The setting-up operations should start in 2018. Initially, costs of € 8.0bn were estimated. Market observers think that this calculation is too optimistic and expect costs of € 15.0bn instead. Nabucco´s capacity would reach 31 billion cubic…

This article includes a total of 190 words.

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