OMV Plans Downsizing of Nabucco

EnergyOil & Gas ♦ 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: ©

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…