Hungary demands 200- 300 million euro for Nabucco from the EU

Hungarian PM Ferenc Gyurcsany demanded the EU to unlock funds amounting to 200-300 million euro for the construction of the Nabucco pipeline that would allow Europeans to import natural gas from the Caspian Sea and Iran, avoiding Russia, AFP informs.

Gyurcsany declared that the EU must subsidize at least the beginning of the project with credits and own funds of at least 200 – 300 million euro.

The project is due to link the Caspian Sea with the European distribution platform in Austria and is still searching for investors. The costs are estimated at 8 billion euro.

The construction would start in 2010 and finish in 2013. The pipeline will start off from Georgia and Turkey and will transit Bulgaria, Romania, Hungary and Austria.