News // Oil and gas worldwide
Nabucco Pipeline Excluded From EU’s Priority Projects
19 March 2009 , 12:17891
The estimated cost of Nabucco pipeline, construction planned to start in 2010, is $10 billion.
The previously announced $323 million allocated to start the project were recently cut to just $64.5 million due to the economic crisis.
Thus the Nabucco pipeline left EU's agenda, though it was supported by 27 EU members, all the transit countries, and the US.
The Nabucco gas pipeline is to be laid through the territories of Azerbaijan, Georgia, Turkey, Bulgaria, Romania, Hungary and Austria to connect Europe with Central Asia, which is rich in hydrocarbons, bypassing Russia.
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