22 November 2010

South stream can be built 4 months earlier than the expected date

“We planned to complete the South Stream gas pipeline construction by 31 December 2015. We can get ahead of this month by four”- said Alexey Miller, Chairman of Gazprom Management Committee.

According to him, the reason for such a forecast was the rapid pace of preparations for the construction of a gas pipeline to Bulgaria far ahead of schedule.

Gazprom and the Administration of Krasnodar Krai are going to focus on building facilities for the gas pipeline from the territory where the South Stream starts. A unique compressor station, which will transmit natural gas for 900 kilometers along the seaside of the gas pipeline at large depths, is one of the priorities indicated in a Cooperation Agreement signed on November 16.

Gazprom and Bulgarian Energy Holding on November 13 in Sofia signed an agreement on the establishment of a Joint Venture for the Bulgarian section of the South Stream. A similar agreement with Austrian partners is expected to be signed before the end of this year. The agreement was previously signed with Gazprom's partners in Hungary, Greece and Serbia.

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