South Stream to begin construction in December 2012

Today, Chairman of the Board Alexei Miller held a meeting on the "South Stream" project at the central office of JSC ‘Gazprom’.

It was decided to considerably speed up the start of the project implementation. At the meeting, a detailed action plan was approved, which will allow to begin the construction of ‘South Stream’ in December 2012, as opposed to 2013, as previously planned.

“Gazprom has done everything necessary to significantly advance the previously announced start date of South Stream construction. We already have an international legal framework, huge interest of all participants in Europe, the necessary financial resources and the unique experience in implementing large-scale offshore gas transmission projects. The project is needed and awaited, and we are beginning to implement it," said Alexei Miller, Chairman of the Board, at the meeting.

The construction schedule for the South Stream project, developed by Gazprom, will be presented to the Board of Directors of South Stream Transport AG in February.

The South Stream gas pipeline is being built in order to diversify export routes for natural gas and will cross from the Black Sea to Southern and Central Europe

Intergovernmental agreements have been signed with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria to implement the onshore part of the project.

Read the article online at: https://www.worldpipelines.com/business-news/20012012/south_stream_to_begin_construction_in_december_2012/