Citing CEO Stefan Judisch of RWE Supply and Trading, a wholly owned unit of Nabucco Gas Pipeline International member RWE, the newspaper reported that each member of the project company would also be required to secure a €1.7 billion bank guarantee.
In addition to Hungary’s MOL and Germany’s RWE, the Nabucco Gas Pipeline International consists of Austria’s OMV, Romania’s Transgaz, Bulgaria’s Bulgargaz, Turkey’s Botas.
Világgazdaság noted that the project company is currently reviewing the previously estimated €7.9 billion total cost of the investment.
The planned Nabucco pipeline would transport gas to Austria from central Asia, thus reducing the Europe’s energy dependence on Russia.
Construction of the pipeline is expected to begin in 2012, while gas deliveries are expected to start in 2014 or 2015.
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