RWE Ready To Exit Nabucco Pipeline Project - Report
December 02 2012 - 9:39AM
Dow Jones News
FRANKFURT: German utility RWE AG (RWE.XE) is poised to exit the
Nabucco gas pipeline project, according to a report in weekly Focus
magazine, citing persons in the industry.
RWE may sell its 16.6% stake in the project to Austrian oil and
gas company OMV AG (OMV.VI) and the deal may be completed by year
end, the article says.
In October OMV Chief Executive Gerhard Roiss said that the
Nabucco consortium, which includes OMV, remained open to more
participants. He repeated earlier comments that there were no
indications that the Hungarian partner MOL Nyrt. (MOL.BU) would
withdraw from the Nabucco consortium. When completed, the pipeline
will feed natural gas from the Caspian Sea region to Europe.
An RWE spokeswoman declined to comment to Dow Jones on the
report.
Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com
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