Four reasons to keep public money away from Nabucco
Publisher: CEE Bankwatch Network
Volume: 5 pages, pdf
Description:
The Nabucco pipeline project, named after the opera of Giuseppe Verdi, is a more than 10 years old idea to bring Caspian or Middle Eastern gas through Turkey to the EU. Its planned route is 3300 kilometres long, making it one of the longest pipelines outside of Russia, envisaged to go through Turkey, Bulgaria, Romania and Hungary to Austria. The estimated cost of construction is almost 8 billion euros and the planned final capacity is 31 billion cubic metres. In January 2009 the president of the European Investment Bank (EIB) declared that the bank may finance up to 1/4 of the construction expenses.