Dec 5, 2012 Russia_Nabucco pipeline project at risk due to RWE pullout - analyst
One of the champions of Europe's Nabucco gas pipeline is reportedly on the brink of pulling out of the project.
German utility RWE has revealed it's in talks to sell its stake to fellow-consortium member OMV.
This has raised further doubts about the pipeline originally intended to bring natural gas from Central Asia directly to Europe.
Renaissance Capital energy analyst Ildar Davletshin says when a major company like RWE is considering exiting the project, "then the prospects definitely look less clear for the whole group of companies."
He says Nabucco "politically and economically doesn't sound like particular attractive project for Europe especially now with the economy being weak there", and may not be able to compete with the Russia-led South Stream project.
"The problem is that more they delay the less need for more gas is in Europe because at a time they decide to do something South Stream may be already at their border", he added.
The Great Day of Annihilation