this piece from EurActiv undercuts the Reuters piece, even if the headline masks that the project was kinda pie in the sky before the Georgia crisis

Nabucco: 'Pie in the sky' after Georgia crisis?

Steve Mufson of the Washington Post writes that one European oil company executive told him that the Nabucco project was simply "not a doable project because there is not enough gas to justify the investment," at least without Iranian gas coming into it. "The only thing that can make it viable is by using Iranian gas," the oil executive further elaborated, adding that otherwise it is a "pie in the sky." American policymakers, he said, "want to have their cake and eat it too. They want to keep Europe from using Russian gas and they want to keep Iran in a corner too".