Nabucco Pipeline’s Demise Sends OMV to Search for Own Gas
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The Nabucco pipeline project, intended to reduce European reliance on Russian natural gas, was itself bypassed today when a group exploiting Caspian Sea reserves opted for a competing project.
Azerbaijan’s Shah Deniz consortium will send Caspian gas via the Trans-Adriatic Pipeline, or TAP, OMV Chief Executive Officer Gerhard Roiss said today at a press conference in Vienna. The choice was driven by higher gas prices in Greece and Italy, he said. A spokeswoman at BP, which controls a quarter of the Shah Deniz gas field, declined to comment.