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    Trend: Hungarian FGSZ's share in Nabucco may further diminish

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Summary

FGSZ's Nabucco pipeline shares may diminish soon. FGSZ's CEO also says Azerbaijani Shah Deniz field is now the only available gas source for the project, and that the fate of Nabucco West is likely to be sealed next summer, when the consortium of Shah Deniz field development will make its final decision on pipeline route.

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Trend: Hungarian FGSZ's share in Nabucco may further diminish

The share of Hungarian FGSZ in Nabucco West project may soon diminish in the future, Dow Jones reported with the reference to the company's Chief Executive Janos Zsuga.

Zsuga told daily Magyar Nemzet that Azerbaijani Shah Deniz field is now the only available gas source for the project, adding that the fate of Nabucco West is likely to be sealed next summer, when the consortium of Shah Deniz field development will make its final decision on pipeline route.

Nabucco West is a short-cut version of Nabucco project, which envisages construction of the pipeline from Turkish-Bulgarian border to Austria. Gas to be produced within the second phase of Azerbaijani Shah Deniz gas field development is considered as the main source for the project.  MORE

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