Despite Setbacks RWE Backs Nabucco

Chief Executive Officer Juergen Grossman has said that RWE AG is committed to the Nabucco gas pipeline.

Despite suffering economic losses from resulting from Germany's decision to phase out nuclear power, the utility re-iterated its commitment, with Grossman quoted by The Wall Street Journal as saying Nabucco was on solid ground.

"We will continue to pursue the Nabucco project."