Nabucco chances grow as Europe’s atomic future dims

Until the Fukushima Dai-ichi nuclear power plant disaster in Japan, the Nabucco pipeline project was struggling with rising costs and political uncertainties. Now, as Europeans shun nuclear energy, EU plans to link the Caspian and Austria have gained new appeal

Challenged by cheaper rivals and lingering supply questions, the up-and-down Nabucco pipeline project may have a new lease on life following Germany’s decision to switch off nuclear power.

Nabucco’s backers in May said it would open two years later than planned and cost more than its target of 7.9 billion euros ($11.4 billion). The link aims to ease Europe’s reliance on Russian gas by delivering supplies through a new southern route.