RWE May Reconsider Nabucco Pipeline BERLIN--RWE AG could scrap its plans for the proposed Nabucco pipeline, which aims to transport natural gas from the Caspian region to central Europe via Turkey, the German energy giant's chief executive said. While still keen to import Caspian gas to Europe, RWE favors options "that keep our own financial exposure limited," Chief Executive Jürgen Grossmann said in an interview. RWE, which has been badly hit by the German retreat on nuclear power, could support other pipelines that have competed with Nabucco, he noted. Mr. Grossmann's comments mark the first concrete signal from a member of the Nabucco consortium that the pipeline, which would run from Turkey's eastern border to Austria, may not be built, despite years of preparation.
BERLIN--RWE AG could scrap its plans for the proposed Nabucco pipeline, which aims to transport natural gas from the Caspian region to central Europe via Turkey, the German energy giant's chief executive said.
While still keen to import Caspian gas to Europe, RWE favors options "that keep our own financial exposure limited," Chief Executive Jürgen Grossmann said in an interview. RWE, which has been badly hit by the German retreat on nuclear power, could support other pipelines that have competed with Nabucco, he noted.
Mr. Grossmann's comments mark the first concrete signal from a member of the Nabucco consortium that the pipeline, which would run from Turkey's eastern border to Austria, may not be built, despite years of preparation.
How long ago did I predict this? Wind power
Get your news on ET, like, centuries early.
I recall you pointing out that despite fundamental ideological differences the USSR supplied gas reliably to Europe throughout the Cold War.
It surprises me that the EU so slavishly follow almost entirely dumb (with the exception of some aspects of financial sanctions) US sanctions policy in relation to Iran. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
