Austria to join South Stream

Russia's Energy Minister Sergei Shmatko says Austria will join the Russian-backed South Stream gas pipeline project in April. Russian news agencies are quoting Shmatko as saying Thursday that this would be the final deal before construction begins later this year. Austria to join South Stream South Stream is a joint venture of Russia's Gazprom and Italy's Eni. The pipeline will exit Russia under the Black Sea and enter the European Union via Bulgaria to carry some 63 billion cubic meters of gas a year when it comes online in 2015. Serbia, Hungary, Slovenia, Bulgaria, Greece, Italy and Croatia are also signed onto the deal. Austria has backed the rival Nabucco pipeline project, which is supported by the EU and the United States and would bypass Russia in supplying gas from the Caspian Sea region. Russia: Agreement to be signed in April Russia expects to sign the last document required to launch the South Stream gas pipeline construction by the end of April, Energy Minister Sergei Shmatko said on Thursday. "The last agreement, with Austria, will be signed already in April," Shmatko said. The South Stream project is designed to pump annually 31bn cubic meters of Russian natural gas along the bed of the Black Sea to Bulgaria and further on to Italy and Austria. The pipeline's capacity could eventually reach 63bn cubic meters annually. The gas pipeline is expected to start operating in late 2015 and account for about 35% of Russian natural gas supplies to Europe. Russia has already signed inter-governmental agreements with Bulgaria, Serbia, Hungary, Slovenia and Croatia to implement the onshore part of the project. The project is part of Russia's efforts to cut dependence on transit nations, particularly Ukraine. It is widely considered a rival project to the EU-backed Nabucco, which would also transport Caspian and Central Asian gas to Europe but would bypass Russia. The South Steam project represents a new gas pipeline system which will connect Russia and EU through the Black Sea. It is envisaged that an underwater section, about 900 kilometers long and with maximum depth of over two kilometers, will stretch from Russian Beregovaya compression station to Bulgarian port of Varna.

Austria to join South Stream

South Stream is a joint venture of Russia's Gazprom and Italy's Eni. The pipeline will exit Russia under the Black Sea and enter the European Union via Bulgaria to carry some 63 billion cubic meters of gas a year when it comes online in 2015.

Serbia, Hungary, Slovenia, Bulgaria, Greece, Italy and Croatia are also signed onto the deal.

Austria has backed the rival Nabucco pipeline project, which is supported by the EU and the United States and would bypass Russia in supplying gas from the Caspian Sea region.

Russia: Agreement to be signed in April

Russia expects to sign the last document required to launch the South Stream gas pipeline construction by the end of April, Energy Minister Sergei Shmatko said on Thursday.

"The last agreement, with Austria, will be signed already in April," Shmatko said.

The South Stream project is designed to pump annually 31bn cubic meters of Russian natural gas along the bed of the Black Sea to Bulgaria and further on to Italy and Austria.

The pipeline's capacity could eventually reach 63bn cubic meters annually. The gas pipeline is expected to start operating in late 2015 and account for about 35% of Russian natural gas supplies to Europe.

Russia has already signed inter-governmental agreements with Bulgaria, Serbia, Hungary, Slovenia and Croatia to implement the onshore part of the project.

The project is part of Russia's efforts to cut dependence on transit nations, particularly Ukraine. It is widely considered a rival project to the EU-backed Nabucco, which would also transport Caspian and Central Asian gas to Europe but would bypass Russia.

The South Steam project represents a new gas pipeline system which will connect Russia and EU through the Black Sea. It is envisaged that an underwater section, about 900 kilometers long and with maximum depth of over two kilometers, will stretch from Russian Beregovaya compression station to Bulgarian port of Varna.