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Russia Won the Competition, Not Competing With Anything: Nabucco

"The task of our partners is very simple: to take out their calculators and consider the figures," Putin said.

Russia Won the Competition, Not Competing With Anything: Nabucco

Russian President Putin, speaking ahead of a signing ceremony with Hungarian Prime Minister Ferenc Gyurcsany, said that it's obvious that EU-supported Nabucco pipeline project is less profitable than Russia's South Stream.

"The task of our partners is very simple: to take out their calculators and consider the figures," Putin said.

“If someone wants to dig the soil to bury tubes there, we don't mind,” said Putin.

“If this [South Stream] project is realized the role of Hungary as an important link in the European energy chain will grow and the stability of supplies will get stronger,” said Putin.

Gyurcsany said Hungary was prepared to continue to support Nabucco, but added that he was likely to choose South Stream.

"So there is more competition. You were faster than the other form of co-operation called Nabucco,” said Hungarian prime minister.

"Russia was not not competing with anything,” said Putin.

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