Nabucco Pipeline May Cost $19 Billion, BP Says, Guardian Reports
By
Zoe Schneeweiss
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The Nabucco pipeline to transport natural gas to Europe may cost 14 billion euros ($19 billion) instead of the 7.9 billion euros it currently is estimated to cost, The Guardian reported, citing an assessment from BP Plc.
The cost would increase partly because of “soaring commodity prices,” with the price of iron ore having increased by half in the past year, according to newspaper.
Nabucco would transport gas from BP’s fields in the Caspian Sea to Austria, the paper said.
To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net
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