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Hungary’s MOL Pulls Out Of Nabucco Pipeline Project

24 April 2012 09:44 (UTC +04:00)

"Nabucco is in trouble," Orban said in Brussels.

MOL later said in an e-mail there were still "many uncertainties around the Nabucco project that would be hard to ignore."

The Nabucco project aims to bring gas from the Caspian region and possibly Middle East countries to Europe.

The 3,900-kilometer pipeline would run from the Georgian border to Austria, carrying some 31 billion cubic meters of gas annually.

But after years of discussions and international conferences, construction still has not started and Nabucco representatives have not signed any contracts with potential supplier countries.

Russia’s rival South Stream project will carry twice the gas Nabucco would and construction is due to start at the end of this year.

MOL was one of six partners in the project.