Nabucco Partners Confirm Investment Decision Delayed to 2011

German utility RWE AG said a decision on whether to invest in the European Union-backed Nabucco natural gas pipeline will be made only in 2011, confirming a earlier statement made by its partner, Austria’s OMV AG in daily Der Standard.

"In light of the still pending gas supply contracts the original schedule can't be met" said an RWE spokesman, confirming a statement by OMV executive Michael Ulbrich, who has responsibility for pipeline projects.

Ulbrich told Austrian newspaper "This year we certainly won't make it, it will be in 2011."

OMV gas chief Werner Auli had hinted that a delay may be forthcoming in a statement in August of this year.

Der Standard reported that the final investment decision will be delayed because gas supply talks with Azerbaijan are dragging on.