Gazprom: South Stream construction to begin 2013

The practical realization of the South Stream gas pipeline will begin in 2013, according to the President of the Gazprom Board of Directors Alexey Miller. He said that the pipeline would be completed by the end of 2015 at the latest. Gazprom: South Stream construction to begin 2013 Miller said that Gazprom has been able to achieve significant results in the preparation of the realization of the South Stream project. Agreements have been signed for cooperation with the governments of Bulgaria, Hungary, Greece, Serbia, Slovenia, Croatia and Austria, Miller reminded. He said that four joint companies have been founded, and that technical and economic feasibility studies for the undersea part of the project have been done, adding that the preparation of feasibility studies for constructing the part of the pipeline on the territories of the participating countries is ongoing. “Today, we can say with certainty that the South Stream project will be successfully completed. Critical mass has been reached. Gazprom will not take any steps back from its plans. The practical realization of the project must begin in 2013 and it will be constructed by the end of 2015 at the latest,” Miller said. He also said that the current gas situation in the south and southeast of Europe is fairly problematic. Miller said that the year started off well, but that “in a month and a half, a group of countries in the region nullified everything that Gazprom put a lot of effort into achieving.” He said, “For now, there are no positive signs of anything happening in terms of economic recuperation and growth.”

Gazprom: South Stream construction to begin 2013

Miller said that Gazprom has been able to achieve significant results in the preparation of the realization of the South Stream project.

Agreements have been signed for cooperation with the governments of Bulgaria, Hungary, Greece, Serbia, Slovenia, Croatia and Austria, Miller reminded.

He said that four joint companies have been founded, and that technical and economic feasibility studies for the undersea part of the project have been done, adding that the preparation of feasibility studies for constructing the part of the pipeline on the territories of the participating countries is ongoing.

“Today, we can say with certainty that the South Stream project will be successfully completed. Critical mass has been reached. Gazprom will not take any steps back from its plans. The practical realization of the project must begin in 2013 and it will be constructed by the end of 2015 at the latest,” Miller said.

He also said that the current gas situation in the south and southeast of Europe is fairly problematic.

Miller said that the year started off well, but that “in a month and a half, a group of countries in the region nullified everything that Gazprom put a lot of effort into achieving.”

He said, “For now, there are no positive signs of anything happening in terms of economic recuperation and growth.”