• 3 days Retail On Pace For Most Bankruptcies And Store Closures Ever In One Year: BDO
  • 10 minutes America Could Go Fully Electric Right Now
  • 10 hours Majors Oil COs diversify into Renewables ? What synergies forget have with Solar Panels and Wind Tirbines ? None !
  • 17 hours A sneak peak into the US election
  • 1 hour Something wicked this way comes
  • 12 hours "COVID Kills Another Oil Rally" by Tom Kool 10/16/2020
  • 3 days Vote Biden for Higher Oil Prices
  • 5 hours covid. stop the carriers and thus stop the virus.
  • 18 hours Tucker Carlson responds to CDC after agency critiques commentary about mask-wearing
  • 1 day GPOR - Gulfport Oil - Why?
  • 18 hours Is the coal industry on the way out?
  • 3 days Dead Cow: Argentina Shale: Argentina wants $5 bln investment to boost Vaca Muerta production
  • 20 mins France Sees 10.6% EV Market Share In September — 4× Growth Year On Year
  • 49 mins Permian in for Prosperous and Bright Future
  • 6 hours Ethanol present in gasoline
  • 1 hour California’s Electric Vehicle Dream Has A Major Problem: No

Construction of South Stream Pipeline to Begin in December

The South Stream natural gas pipeline was first introduced in 2007 as a venture between Gazprom of Russia, and Eni of Italy. It is meant to offer a rival to the gas pipeline proposed to transport gas from the Black Sea to Europe, a pipeline that if left unchecked could threaten Gazprom’s natural gas monopoly in Europe.

A statement has now been released by Vladimir Putin’s office, which announces the South Stream project will begin in December. Eni initially said that they expected a final investment decision to be made in late 2010 or early 2013, however the Russians have now said that “Gazprom and Eni aim to make the final investment decision on the offshore part of the project in November and start the construction in December.”

The pipeline will cost an estimated €15 billion ($18.25 billion) and be able to supply southern Europe with 63 billion cubic meters of natural gas as early as 2015.

Putin and Mario Monti, the new Italian Prime Minister, will meet in Russia today to discuss the deal, amongst other things.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Reay Services Group on August 27 2012 said:
    Will you please tell me that what kind of precautions should be used in Gas pipelines

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News