Does Nabucco have many uncertainties?

Does Nabucco have many uncertainties?

Nabucco gas pipeline project, which is designed to transport gas from the Caspian region and Middle East to the European countries, has many uncertanties, Bloomberg reported with the reference to Hungarian company Mol.

“There are “many uncertainties around the Nabucco project that would be hard to ignore,” Mol said.

Earlier Hungarian Prime Minister Viktor Orban said that Mol is leaving Nabucco project.

“I’m not an expert on the details, but what I have seen is that even the Hungarian company, Mol, is leaving the whole project,” Orban told reporters in Brussels.

MOL is a 100 percent owner of FGSZ Natural Gas Transmission Company, which is one of the six shareholders in Nabucco gas pipeline project. The project’s other partners include Bulgarian Energy Holding, Romanian Transgaz, Turkish Botas, Austrian OMV and German RWE.

Gas produced during the second phase of Azerbaijani Shah Deniz gas condensate field development is considered to be the main source for the Nabucco project.

According to Mol, Nabucco’s source of natural gas and financing are both uncertain and the company has experienced “a continuous increase regarding the costs of the realization of the project, while it is still unclear how much the final cost will be.”



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