The Hungarian oil company, MOL could end up investing in the South-East Europe Pipeline (SEEP) project, planned and run by the British oil and gas company, British Petroleum (BP). SEEP would be a natural gas pipeline running from Turkey to Austria, delivering gas from Azerbaijan to Europe. The main point of this pipeline is similar to Nabucco: to reduce European dependence on Russian energy supplies. SEEP is considered as the main competitor of the Nabucco pipeline. Nabucco has been facing serious problems lately: not only MOL, but the German electric utilities company RWE has also been considering dropping out.
