Oettinger Expects RWE to Stay Course on Nabucco

The European Union's energy commissioner has expectations for the continued participation of Germany’s RWE AG in the Nabucco gas pipeline project.

Europe's fifth-largest utility recently announced that it was exploring a strategic partnership with Gazprom, which leads the competing South Stream pipeline project.

"I trust that RWE stays on board (of the Nabucco project) and that the partnership with Gazprom will still be tested," said Guenther Oettinger.

Earlier this month, RWE Chief Executive Officer Juergen Grossman has said that the company was committed to Nabucco, despite suffering economic losses from resulting from Germany's decision to phase out nuclear power.

Oettinger also commented that the Japanese nuclear disaster at Fukushima has increased the probability of the Nabucco project proceeding.

Related Reading: RWE and Gazprom to Pursue Strategic Partnership