Russian gas giant Gazprom will inject 100 million euros into the capital of South Stream Transport, one of the operators of the South Stream pipeline designed to carry gas to Europe bypassing Ukraine, the gas giant said in a statement Monday. The board of directors of Gazprom approved the decision on September 10, the company…
A Russian newspaper has published an article suggesting that the Kremlin-favoured South Stream gas pipeline could drop Bulgaria, Serbia, Hungary, and Slovenia for its route, and instead reach its final destinations, Italy and Austria, through Turkey and Greece. On Monday (18 August), Russian business newspaper Vzglyad published an article by journalist Oleg Makarenko, claiming that…
Strong suspicions of Russian involvement in the tragic shooting down of a Malaysia Airlines aircraft have led EU countries to consider new sanctions against Moscow. Tough sanctions would involve targeting Russia’s natural gas exports. But any new measures will fall short of this. Europe’s dependence on Russian gas, and the pipeline projects that accompany it,…
The state-owned Bulgarian Energy Holding (BEH) will approve the EUR 620 m loan it was offered by Russia’s Gazprom for the construction of South Stream in Bulgaria during a meeting currently held after 17.00 h EET, Capital Daily reported. The news comes as the government of Plamen Oresharski is expected to resign on Tuesday, the…
At a time of intense diplomatic pressure on the Kremlin over Ukraine, Russia’s leader is to visit Serbia in October on a mission to shore up ties with his Balkan ally – and discuss the South Stream gas pipeline. President Vladimir Putin of Russia has confirmed that he will visit Serbia on October 19 for…
The Bulgarian stretch of the South Stream gas pipeline could go beyond $5.86 billion previously estimated, a Russian daily argues. Vedomosti bases its conclusions on the announcement made this week that the section to be built in neighboring Serbia will be worth $2.1 billion, or 23.5% more than the expected price. Projected value of the…
Bulgaria considers gas project South Stream as an effective measure to improve energy security in the country, Bulgarian Foreign Minister Kristian Vigenin said in an exclusive interview with ITAR-TASS. “The position which Bulgaria stated repeatedly is that implementation of South Stream project is important in view of diversification of gas delivery routes and in economic…
Vienna, June 24, 2014 Alexey Miller, Chairman of Gazprom’s Management Committee and Gerhard Roiss, Chief Executive Officer of OMV inked a Shareholders Agreement for the South Stream Austria joint project company. The Agreement envisages the parties’ cooperation while constructing the Austrian section of the South Stream gas pipeline with the annual capacity of 30 to 32 billion cubic meters running from the Hungarian border to the…
Ukraine’s parliament agreed yesterday (19 June) to discuss a bill to allow gas transit facilities to be leased on a joint venture basis with participation from firms in the European Union or United States. Ukraine would hold 51% and foreign partners would be offered 49% in the venture, which would manage both transit pipelines and…
The European Commission infringement proceedings against Bulgaria, in breach of EU law over the choice of constructor of the South Stream gas pipeline, shows the determination of the EU institutions in the implementation of anti-trust policy and the liberalisation of the energy market. However, even if Sofia—and also Belgrade—will move the start of construction, one should not…
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