Nabucco Head: 2 Companies Interested In Joining Consortium
November 10 2011 - 8:37AM
Dow Jones News
Two more companies are interested in joining the consortium
planning to build the Nabucco pipeline to bring Caspian natural gas
to Europe, the consortium's managing director said Thursday.
"We have two other interested shareholder counterparts and we
start negotiations with them also quite soon," Reinhard Mitschek,
managing director of Nabucco Gas Pipeline International, said
during a hearing on the European Union's energy security at the
European Parliament. He didn't add any detail.
His remarks come after Bayerngas GmbH, a publicly owned
German-Austrian gas procurement vehicle, said it intends to join
the EU-backed project.
The initial six members of the Nabucco consortium includes
German utility RWE AG (RWE.XE), Austria's OMV AG (OMV.VI) and
Hungary's MOL Nyrt (MOL.BU), each of which holds approximately
16.7%.
Adding shareholders might prove key for the final development of
the pipeline, as costs are seen rising above the initial estimate
of EUR7.9 billion, and RWE, the main company in the consortium, is
being financially hit by Germany's decision to exit nuclear
power.
-By Alessandro Torello, Dow Jones Newswires; +32 2 741 14 88;
alessandro.torello@dowjones.com
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