Trend: "Nabucco": view from Baku

There were many talks about the death or fatal blows inflicted to Nabucco, it was buried several times. However, the project had shown an enviable vitality and continues to compete with others, intended to transport Caspian gas to Europe. Some time ago, Nabucco shortened route, reduced power and changed the name, but now a new stage of transformation - a possible change in the composition of the shareholders.

The Hungarian company MOL is ready to sell its stake in the project, explaining that there is still many unanswered questions remain, including questions of sources of gas, costs, including transport, and this is the reason that MOL can no longer fund the Nabucco Gas Pipeline International (NIC). In addition, funding for NIC costs around 20 million euros for the Hungarian company, and the NIC was not managed properly. In parallel, the Prime Minister of Bulgaria Boyko Borisov said the other day that Bulgaria isn't able to realize Nabucco pipeline project. "At present, Bulgaria has no real opportunity to realize this project. We offer the following to our partners - if we want to build Nabucco, the European Investment Bank could fund it, then we would gradually return loans" he said.  MORE