Share of Hungarian MOL company could be withdrawn from Nabucco project

Representatives of MOL in Nabucco consortium said that share of Hungarian MOL concern could be withdrawn from the consortium, if the Hungarian side does not increase investments into the project.

At the end of April this year Hungarian Premier Viktor Orban said at the European Political Centre in Brussels that "MOL company is going to leave the Nabucco gas pipeline project."

Premier said that Nabucco project is facing difficulties with implementation so that "even Hungarian MOL" is going to leave it.

According to the MOL statement, "there are many uncertainties around the Nabucco project, which are hard to ignore," such as cost of the gas pipeline, which should deliver fuel from the Caspian region to Europe, constantly grows.

Christian Dolezal, official representative of Nabucco, told New York times said "situation of NOL Group in the project and its obligations remain unchanged."

Last week representatives of Nabucco-West said that they are waiting for the production companies from the Caspian Sea to join the project. This was actually a signal that the Nabucco-West project has again faced financial difficulties.-0---