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Gazprom, Hungary Sign Deal on South Stream Pipeline Stretch
© AFP/ Sergei Supinsky19:35 31/10/2012MOSCOW, October 31 (RIA Novosti)
Russian energy giant Gazprom and Hungary have signed a final
shareholders' agreement to build the Hungarian stretch of the South
Stream gas pipeline, Gazprom said in a statement on Wednesday.
`The implementation of the project to build the South Stream gas
pipeline jointly with our Hungarian partners is an important element
of the new architecture of European energy security. This system can
ensure uninterrupted gas supplies and provide Hungary long-term
benefits and stability,' Gazprom Deputy CEO Alexander Medvedev said at
the signing ceremony.
The South Stream pipeline is intended to transport up to 63 billion
cubic meters of natural gas to central and southern Europe,
diversifying Russian gas routes away from transit countries such as
Ukraine.
Construction will start in December 2012. Russia plans to start using
the pipeline in 2015.
The pipeline's core shareholders include Gazprom with 50 percent,
Italy's Eni with 20 percent and Germany's Wintershall Holding and
France's EdF with 15 percent each.
© AFP/ Sergei Supinsky19:35 31/10/2012MOSCOW, October 31 (RIA Novosti)
Russian energy giant Gazprom and Hungary have signed a final
shareholders' agreement to build the Hungarian stretch of the South
Stream gas pipeline, Gazprom said in a statement on Wednesday.
`The implementation of the project to build the South Stream gas
pipeline jointly with our Hungarian partners is an important element
of the new architecture of European energy security. This system can
ensure uninterrupted gas supplies and provide Hungary long-term
benefits and stability,' Gazprom Deputy CEO Alexander Medvedev said at
the signing ceremony.
The South Stream pipeline is intended to transport up to 63 billion
cubic meters of natural gas to central and southern Europe,
diversifying Russian gas routes away from transit countries such as
Ukraine.
Construction will start in December 2012. Russia plans to start using
the pipeline in 2015.
The pipeline's core shareholders include Gazprom with 50 percent,
Italy's Eni with 20 percent and Germany's Wintershall Holding and
France's EdF with 15 percent each.