WSJ: Nabucco Gas Consortium Optimistic Despite Piling Doubts

The management of the consortium that plans to build the Nabucco natural gas pipeline from Turkey to Austria remains optimistic that the concept will eventually become a reality, even though it’s still nothing more than a zigzagging line drawn on a map. The consortium’s members are less enthusiastic.

The pipeline was originally designed to be 3,900 kilometers long and deliver 31 billion cubic meters of natural gas a year from the Middle East to Austria. It became a pet venture for the European Union after price disputes between Russia and the Ukraine interrupted gas transit in recent years, highlighting the need for alternative supply sources.

But more recently interest has dwindled and Nabucco still doesn’t have a finalized trajectory, a budget and, most importantly, a source of gas to feed the pipes.  MORE