RWE AG (Germany) plans to quit the Nabucco pipeline project and sell its 16.7% share to OMV (Austria), as stated by RWE head Jurgen Grossman in mid-April, Financial Times reports.
RWE is probably planning to focus on construction of the South Stream, a Russian pipeline project for the Black Sea. Its construction will start on December 7. RWE is starting to cooperate with Gazprom (Russia) on Nord Stream under the Baltic Sea. The pipeline has reached Germany bypassing other states.
Nabucco will transport gas from the Caspian Sea and the Middle East to the EU. It has been redesigned into Nabucco West, excluding the Turkish section. Azerbaijan and Turkey plan to build the Trans-Anatolia Pipeline (TANAP).
OMV (Austria), FGSZ (Hungary), a Bulgarian energy holding, Transgaz (Romania), Botas (Turkey) and RWE (Germany) are shares of the project with 16.67% of shares each. Its construction was planned to start in 2013, first gas supplies were expected in 2017.
The Shah Deniz Field in Azerbaijan may become the source of gas to fill the pipeline. First gas portions are expected after 2017.
