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16

Three's a Crowd in South Stream project

Gazprom and Italy's Eni announced that they wouldn't involve a third partner in their project to build a pipeline across the Black Sea to pump natural gas to Europe

Gazprom and Eni participate in the South Stream project on a par.

This pipeline project is expected to annually pump 30 billion cubic meters of Central Asian and Russian gas to the Balkans and on to other European countries, with the first deliveries scheduled to start in 2013. Bulgaria, Serbia, Hungary, Italy and Greece are also involved in the project.

The Eni CEO Paolo Scaroni said local partners could be involved in the project in the countries serving as the transit route for the pipeline but they would not participate in the equity of the project's operator.

Author: Ksenia Kochneva