The EU-backed Nabucco natural gas pipeline project may be dropped for good by late June, according tothe ITAR-TASS News Agency, which has cited London business circles.
The fiasco of the project has been reportedly predetermined by drastic changes on the global gas market.
ITAR-TASS has reminded that a number of energy giants, including BP, have already pulled out of the project.
The Nabucco project aimed at lessening Europe's energy dependence on Russian energy was supposed to achieve a gas transport capacity of 31 billion cubic metres (bcm) a year.
On May 16, the Nabucco Consortium presented a revised, smaller version of the gas pipeline project called Nabucco West to the consortium developing the Shah Deniz II gas field in Azerbaijan.