MOL moves not threats Nabucco

The Nabucco gas-pipeline project is not under threat by concerns about the project expressed by Hungary's MOL, a spokesman for the consortium planning to build the pipeline said on Thursday.

"The MOL statement has not endangered Nabucco," he said from Vienna. "Financing is safe even without MOL." MOL has said it was ready to sell its stake if necessary due to concerns it has about the cost and possible lack of gas supplies.

He added that projected costs of 8 billion euros ($10.55 billion) were still a valid estimate.
Regardless of any moves by MOL the consortium was talking to Germany's Bayerngas, which on Wednesday upheld plans to join the project. The consortium was hoping to conclude these discussions successfully, he said.

Gas demand was set to rise in Europe in the future, making the project necessary especially with the need to diversify supply sources, he added.

Energy Commissioner Guenther Oettinger said in Brussels that Hungary was an important player in Nabucco, but not the main actor. ($1 = 0.7585 euros) (Reporting by Tom Kaeckenhoff, writing by Vera Eckert)


/Reuters/