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Hungary's MOL prepares ground for Nabucco withdrawal

Author: The Budapest Times Date: Wed, May 02 2012 1610 Views
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The European Commission has not received an official notice yet but statements by oil corporate MOL suggest that the Hungarian company is planning to abandon the Nabucco pipeline project.

Nabucco – to be constructed in a joint venture of Austria, Romania, Bulgaria, Turkey and Hungary – is planned to transport gas to Europe from a yet-unknown Central Asian country – such as Azerbaijan or Turkmenistan – as an alternative to the rival Russian project South Stream.

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