RPT-Hungary MOL ready to sell its stake in Nabucco if needed

Thu Apr 26, 2012 6:48am EDT

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BUDAPEST, April 26 (Reuters) - Hungarian oil and gas group MOL is ready to sell its stake in the Nabucco gas pipeline consortium if necessary as it has serious concerns over the project, MOL Chairman Zsolt Hernadi told a news conference on Thursday.

"We have signalled that we are ready to sell our shares if necessary, we merely had to send a very very strong signal now that we are not willing to finance this any longer," Hernadi said.

MOL has voiced doubts over Nabucco several times since 2010 due to the project's uncertain costs and gas sources and concerns over its structure and management, MOL said earlier this week when it announced it would not finance the 2012 budget of NIC, the company that prepares Nabucco. (Reporting by Krisztina Than)

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