BSTDB May Help Finance South Stream Gas Pipeline

Monday, 23 June 2014

"But first, all issues have to be resolved [..],” Kondakov added.

The planned South Stream gas pipeline, spearheaded by Gazprom, will carry gas from Russia to central and southern Europe via Bulgaria, Serbia, Hungary and Slovenia, reaching its full capacity of some 63 billion cubic metres per year by 2017.

Earlier this month, Bulgarian prime minister Plamen Oresharski said Bulgaria was halting the construction of the South Stream section on its territory until the project is aligned to EU law. The Bulgarian authorities had earlier received a letter of formal notice from the European Commission, asking the country to suspend the project's implementation as it runs counter to EU legislation.

On Tuesday, Gazprom said the contract for the design, construction and commissioning of the pipeline's Serbian section will be signed in late June. News agency Itar-Tass had earlier quoted Russian foreign minister Sergey Lavrov as saying Russia and Serbia had confirmed their commitments to the construction of the South Stream gas pipeline.

Source: SeeNews
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