Gazprom’s South Stream pipeline project edges closer to construction

The Chairman of the Board of OAO "Gazprom", Alexei Miller, held a meeting to discuss the future of the South Stream project.

The participants of the meeting reviewed in detail the current status of the project, noting that the timeline of South Stream’s implementation is being strictly observed. Particular attention was paid to the fulfillment of all necessary conditions for the accelerated start of construction of the pipeline in December of this year, as requested by Prime Minister Vladimir Putin. It was noted that the final investment decision on South Stream would be made in November this year.

At the meeting, Alexei Miller approved the Rules of the South Stream construction. The document details the entire volume of works for the offshore and onshore parts of the project.

"We have entered the stage of the actual construction of South Stream. Without exaggeration I can say that Gazprom is working on the project 24 hours a day. This abnormally cold winter, which caused a sharp increase in demand for Russian gas in Europe, is another confirmation that South Stream must and will be built. Europe needs new corridors for Russian gas supplies, without transit intermediaries," said Miller.

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