Gazprom signs final South Stream pipeline deal with Slovenia
In a recent statement, Russian energy giant Gazprom confirmed a final deal has been signed with Slovenia to build the Slovenian stretch of the South Stream gas pipeline.
The deal, which is similar to previously signed deals with Hungary and Serbia, was signed by Gazprom CEO Alexei Miller and Slovenia鈥檚 Plinovodi d.o.o. General Director Marjan Eberlinc in the presence of Russian Prime Minister Dmitry Medvedev.
The South Stream pipeline will transport up to 63 billion m3 of natural gas to central and southern Europe along the Black Sea seabed. The pipeline鈥檚 route means Russia is diversifying away from transit countries such as Ukraine.
Following Russian President Vladimir Putin鈥檚 instruction, Gazprom has accelerated the South Stream pipeline's construction schedule, with work now to begin before the end of 2012.
It is expected that the pipeline will commence commercial deliveries of natural gas to Europe in Q1, 2016. Its designed capacity of 63聽billion m3 will then be reached in 2018. The project鈥檚 overall price tag, including the pipeline鈥檚 overland sections, is estimated at US$ 16 billion.
Edited from various sources by
Read the article online at: /business-news/13112012/gazprom_signs_final_south_stream_pipeline_deal_with_slovenia/
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