The execution of Nabucco gas pipeline project is halted because one of the participants, Hungary, decided to take part in an alternative energy project, Italian agency Marketplace reported.

Nabucco is planned to transport natural gas from Iran and Azerbaijan to Central Europe. EU supports the project as a way to limit the dependence on Russian gas supply.

Turkey, Bulgaria, Romania, Hungary and Austria were supposed to carry out the project. The pipeline will be 3300km long and will have the capacity to transfer nearly 24 billion cubic m of gas per year.

Companies from the five countries had to form a consortium to construct the pipeline but the lack of sixth big investor resulted in delays.

Hungary decided to take part in alternative project under the control of Russian company Gazprom, Marketpress reported.

The new project will be involve prolongation of the Blue Stream oil pipeline and will follow the way of Nabucco.