RWE could quit Nabucco

Heading for the exit: reports over the weekend suggested RWE could quit the Nabucco project before the end of the year

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News Wires

 03 December 2012 03:04 GMT

Reports suggest the German utility is looking to exit the pipeline project

German utility RWE may soon quit the Nabucco gas pipeline project and could sell its 16.1% stake in the scheme to fellow shareholder OMV, according to reports.

A deal to transfer Essen-based RWE's stake to the Austrian energy company could still happen before the end of the year, Germany's Focus magazine reported over the weekend.

RWE said in May that it was reviewing strategic requirements regarding the Nabucco project which would carry Caspian area gas to Europe.

Ambitions of the project's consortium which also includes Hungary's MOL through its gas pipeline operator FGSZ, Turkey's…

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