The investment project of the Nabucco gas pipeline has risen from 7.9 billion to 12-15 billion euros, Reuters cites a Turkish source.
The gas pipeline is planned to be launched in early 2015, with a capacity of 31 billion cubic meters of gas annually.
Some partners investing in Nabucco insist on re-estimating the project expenses. Investments may be postponed until 2012, taking into account the increase in price and problems with finding a gas source to fill the pipeline. The consortium managing the project expects to pump gas from the Caspian states to Europe through Turkey and the Balkans.
Reuters notes that Nabucco is aimed at reducing European dependence on Russian gas. Russia is working on an alternative project, the South Stream, to export gas to Europe by-passing transit states. The South Stream is set to cost 15.5 billion euro, Rosbalt reports.
