(CNN) -- Europe's Nabucco natural gas pipeline hit a third major delay Friday as the start of operations was pushed back from 2014 to 2017.
The delay is the result of changes in supplier timelines in the Caspian and Middle East regions, Reinhard Mitschek, managing director of Nabucco Gas Pipeline International, announced in Vienna, Austria.
The process "will start as soon as there are firm indications that gas supply commitments are in place," Mitschek said.
The pipeline is designed to reduce Europe's fuel dependence on Russia by funneling natural gas 3,900 kilometers (about 2,400 miles) across five countries from the eastern border of Turkey to Austria.
At full capacity, the alternate energy corridor would transport 1,550 billion cubic meters of gas to Europe over the next 50 years, essentially breaking Russia's grip on pipelines in the region and transforming Turkey into a hub for lucrative European markets
The "project continues to be driven by the needs of the customers," Mitschek said.
There have been reports of project costs soaring above 15 billion euros.
"We are aware of these rumors for the last few months. Our cost estimation has not changed," Christian Dolezal, spokesman for Nabucco Gas Pipeline International, told CNN. Current estimates place the project at 7.9 billion euros. Calculations will be reviewed again later this year.
Construction is expected to begin in 2013.
Nabucco is a joint venture between OVM Gas & Power (Austria), RWE AG (Germany), MOL Group (Hungary), Transgaz (Romania), Bulgarian Energy Holding EAD (Bulgaria), and BOTAS (Turkey).
The addition of a proposed feeder line from Iraq would increase the length of the pipeline.
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