Officials reveal South Stream details

The South Stream gas pipeline will be completed by December 2015, while the construction will begin in 2013, the heads of Gazprom and South Stream said. South Stream director Marcel Kramer said the feasibility study will be completed by August and that the exact route of the pipeline will be known then. Officials reveal South Stream details The construction will run parallel in all of the countries on the route, Kramer stated. Serbia will be getting 15 billion cubic meters in December 2015, he noted in Belgrade today, adding that the quantity will rise steadily until 2020. The pipeline is going to enter the Serbian territory near Zajecar, eastern Serbia, with two potential exit points along the border with Hungary currently being taken into consideration, it has also been revealed. Head of the Gazprom Project Management Department Leonid Chugunov said the pipeline will become operational by the end of 2015 and that the quantity of gas will be increased gradually by 2019, when it should reach 60 billion cubic meters a year, depending on demand. The South Stream gas pipeline will be built because it is in the interest of Russia and the EU, according to what was said at the project's presentation in Belgrade on Wednesday. Serbia's Minister of Ecology and Mining Oliver Dulic said the largest arm of the pipeline, towards the EU, will go through Serbia. According to him, Serbia is going to become the main hub when it comes to gas supply in the region, which will boost its geostrategic and political significance. The project will turn Serbia into a bridge between Russia and the EU, so the country will profit politically, said Dulic. Serbia will provide support for the project and gain a chance to benefit from its strategic partnership with Russia, he pointed out. The construction of the Serbian section of the pipeline will cost around EUR 700mn. Its capacity will be at about 40 billion cubic meters a year. The pipeline will be 470 km long and provide work for thousands of people. The plans for the pipeline were made public July 23, 2007. Serbia and Russia signed an agreement regarding the pipeline's construction in Moscow December 24, 2008. The document was signed by Chairman of Gazprom Management Committee Alexey Miller and Srbijagas General Director Dusan Bajatovic. The two countries already have an energy arrangement, which has included the sale of 51 percent of NIS, the formerly government owned oil company, for EUR 400mn and the construction of the Banatski Dvor gas storage facility. South Stream is a proposed gas pipeline to transport Russian natural gas to the Black Sea, Bulgaria and further to Italy and Austria. The pipeline should be able to transport 63 billion cubic meters of gas every year. Its last estimated value stands at EUR 24bn. (Beta)

Officials reveal South Stream details

The construction will run parallel in all of the countries on the route, Kramer stated.

Serbia will be getting 15 billion cubic meters in December 2015, he noted in Belgrade today, adding that the quantity will rise steadily until 2020.

The pipeline is going to enter the Serbian territory near Zaječar, eastern Serbia, with two potential exit points along the border with Hungary currently being taken into consideration, it has also been revealed.

Head of the Gazprom Project Management Department Leonid Chugunov said the pipeline will become operational by the end of 2015 and that the quantity of gas will be increased gradually by 2019, when it should reach 60 billion cubic meters a year, depending on demand.

The South Stream gas pipeline will be built because it is in the interest of Russia and the EU, according to what was said at the project's presentation in Belgrade on Wednesday.

Serbia's Minister of Ecology and Mining Oliver Dulić said the largest arm of the pipeline, towards the EU, will go through Serbia.

According to him, Serbia is going to become the main hub when it comes to gas supply in the region, which will boost its geostrategic and political significance.

The project will turn Serbia into a bridge between Russia and the EU, so the country will profit politically, said Dulić.

Serbia will provide support for the project and gain a chance to benefit from its strategic partnership with Russia, he pointed out.

The construction of the Serbian section of the pipeline will cost around EUR 700mn. Its capacity will be at about 40 billion cubic meters a year. The pipeline will be 470 km long and provide work for thousands of people.

The plans for the pipeline were made public July 23, 2007.

Serbia and Russia signed an agreement regarding the pipeline's construction in Moscow December 24, 2008. The document was signed by Chairman of Gazprom Management Committee Alexey Miller and Srbijagas General Director Dušan Bajatović.

The two countries already have an energy arrangement, which has included the sale of 51 percent of NIS, the formerly government owned oil company, for EUR 400mn and the construction of the Banatski Dvor gas storage facility.

South Stream is a proposed gas pipeline to transport Russian natural gas to the Black Sea, Bulgaria and further to Italy and Austria.

The pipeline should be able to transport 63 billion cubic meters of gas every year. Its last estimated value stands at EUR 24bn.