a re-feed for the Nabucco West project was being conducted by Saipem following the selection of the project as the Central European route by the Shah Deniz consortium in June last year. This work will build upon existing engineering work already completed for the Nabucco classic route. According to Reinhard Mitschek, managing director of Nabucco Gas Pipeline International GmbH, construction of the pipeline was scheduled to begin in 2013 and would become operational by 2017. However, in June 2013, the Shah Deniz Consortium had chosen a rival project, Trans Adriatic Pipeline, that has a route Turkey–Greece-Albania-Italy, and the future of Nabucco project is unclear. Financing The pipelines costs are undisclosed, however Reinhard Mitschek said in late 2012 that the costs of Nabucco West would be far lower than €7.9 billion previously suggested. The final investment decision was expected in 2013. The sources of financing of the Nabucco project are not decided yet. As a commercial project, it will be financed 30% by the project's partners and the rest by commercial financial instruments. The European Commission has awarded an EU project grant in the amount of 50% of the estimated total eligible cost of the feasibility study and has also decided to allocate €200 million from the European Economic Recovery Plan. To receive this financing, this grant should be committed by the end 2010. At the Nabucco Summit held in Budapest on 27 January 2009, the heads of the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) confirmed, that they are prepared to provide financial backing for the project. On 5 February 2010, the EIB vice-president Mathias Kollatz-Ahnensaid that Nabucco consortium was seeking up to €2 billion (20–25% of costs) in bank financing. The EIB was ready to participate in the financing of this project; however, the precondition was that the partner countries should legally approve the pipeline's transit in their countries. In September 2010, the consortium signed an agreement with EIB, EBRD, and the International Finance Corporation (IFC), according to which the banks will conduct due diligence for a financing package of €4 billion. Up to €2 billion will be signed by the EIB, up to €1.2 billion by the EBRD, and up to €800 million by the IFC. All figures listed above relate to the original Nabucco Project. Updated figures for Nabucco West are undisclosed as of June 2013. Reinhard Mitschek, Managing Director of