€8B Nabucco Gas Pipeline Plan Wins Hungary's Approval

Law360, New York (August 14, 2012, 7:01 PM EDT) -- The €7.9 billion ($9.7 billion) Nabucco West pipeline notched its final Hungarian environmental permit, giving it a temporary leg up over a rival pipeline vying for a shipping contract with BP PLC and Statoil ASA's Caspian Sea gas operation, the project company announced Tuesday.

The last of four regional environmental protection, nature conservation and water management inspectorates has signed off on the 239-mile Hungarian leg of the planned 2,423-mile pipeline, according to a statement from Nabucco Gas Pipeline International GmbH, a joint venture formed by the...
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