Abu Dhabi eyes Nabucco pipeline

Abu Dhabi`s investment fund- International Petroleum Investment Company (IPIC) is considering to take a stake in the Nabucco pipeline project, Austrian daily Salzburger Nachrichten reported.
IPIC holds a 20% stake in Austrian oil and gas company OMV, which is one of the partners developing Nabucco.

OMV spokeswoman Michaela Huber said the consortium is open to a seventh partner. IPIC is responsible for all foreign investments in the oil and chemicals sector. The Nabucco pipeline is a proposed natural gas pipeline from Erzurum in Turkey to Baumgarten an der March in Austria diversifying natural gas suppliers and delivery routes for Europe.


/AzerTAc/