"Since then, crude oil prices have more than doubled – which consequently has also led to higher prices for all primary energy sources – also prices for steel," the project's managing director, Reinhard Mitschek, said. "In addition, steel is in high demand because of the large numbers of big projects." "The competitiveness and the economics of the project will be unaffected," the consortium said. "High demand for energy leads to higher gas prices as well and, therefore, also to higher transportation fees, which make Nabucco considerably profitable." Nabucco plans to maintain the project's financing approach, with one-third provided by the consortium's members and the remainder split evenly among commercial banks, international financial institutions and export credit agencies, Mr Mitschek said recently. "The pipeline project's deadlines have not changed on account of the new financing estimate," Mr Mitschek continued. The consortium's final investment decision is expected in the spring of 2009, construction work is programmed to start in 2010, and gas is expected to flow through the pipeline as of 2013. The consortium said the new cost estimate is the outcome of its recent Capex update, which it based on an actual market survey among major material and service suppliers. The Nabucco consortium consists of Austria's OMV AG, Bulgaria's Bulgargaz, Germany's RWE AG, Hungary's MOL, Transgas of Romania, and Botas of Turkey.