RWE To Scrap Stake In $10.3B European Gas Pipeline

Law360, New York (December 7, 2012, 6:21 PM EST) -- German utility RWE AG will reportedly sell its ownership interest in a sprawling €8 billion ($10.3 billion) pipeline that will stretch across eastern Europe, inviting questions Friday over whether the Nabucco project could move forward as planned.

RWE's decision came after gas producers were invited last month to purchase stakes in the pipeline, the Wall Street Journal reported. The German company had initially bought its 16.7 percent interest in the project to assure a long-term gas supply for its home country, but with gas companies' involvement,...
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