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News // Oil and gas worldwide

Germany Is Against EU Funding for Nabucco

04 March 2009 , 10:20Ksenia Kochneva1125
Germany must provide a significant share of the funding as an EU member but since the beginning of the project's discussion, continues to hamper it.

Germany has actually sibmetted to be a host of Nord Stream pipeline from Russia, that is Nabucco's rival.

At the same time, Bulgaria, Hungary and Austria, being members of the Nabucco consortium, agreed on another Nabucco rival, South Stream, which would bring Russian gas to Italy.

The Nabucco project is considered to be a rescue for European counries which greatly depend on Russian gas supplies. It is planned that Nabucco Gas Pipeline to begin operations in 2014.

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