Russia signs Agreements on South Stream Gas Pipeline with EU Countries

[Ivan]

Moscow can sign a South Stream Pipeline Agreement with Austria and Slovenia "in the next few weeks", anounced Russian Energy Minister Sergei Shmatko, reported Itar-Tass Agency today (25/5/09).

Crossing the Black Sea (900 km), the project uses mainly Bulgaria's Seaport Varna, Greece, Italy (via an Adriatic Sea link), and Serbia to transport, through various Balkan paths, "natural Gas to Europe from Russia and possibly Central Asia".

On 2008, a "joint venture of Gazprom and ENI (Italy) was registered in Switzerland", and on 15 of May 2009, Gazprom signed corporate accords with Greece, Bulgaria, Serbia and Italy".

Initially it was agreed with Italy that "the amounts of Russia’s gas exports ...will be increased gradually to reach three billion cubic meters a year by 2010". On the overall project, "the deliveries will start in 2013. The designed capacity of the future pipeline will make up to 31 billion cubic meters of gas per year". "The South Stream gas pipeline will be commissioned by December 31, 2015" : A Time "Deadline ...set in the agreements" signed on May 2009.