EC’s Nabucco pipeline payout a small step in right direction
The European Commission’s announcement of a €200 million payout to the Nabucco pipeline has been welcomed by European utilities, but some experts point out it is only a tiny fraction of the estimated total cost of €7.9 billion.
The EC has announced it would dedicate €2.3 billion ($3.12 billion) from the European Union's €5 billion economic stimulus package to boost 43 pipeline and electricity contracts, dedicating €200 million to the Nabucco pipeline specifically.
The package awarded €0.91 billion to 12 electricity interconnection projects and €1.390 billion to 31 gas pipeline projects. Among the projects are key inter-connectors linking up the currently isolated Baltic States with neighbouring Finland, Sweden and
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