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South Stream gas pipeline offshore section slated for 2015

03rd October 2013

Gazprom confirms commissioning of South Stream’s first offshore line in 2015

Gazprom, South Stream Transport sign gas transmission agreement
Gazprom holds a 50 per cent stake in the project, Italian Eni has a 20 per cent stake, while German Wintershall Holding and French EDF each hold a 15 per cent stake

Gazprom Export and South Stream Transport B.V. on Wednesday confirmed the commissioning of South Stream's first offshore line before the end of 2015, Gazprom said in a written statement.


The agreement follows a visit from Gazprom boss Alexey Miller to Paris to attend a meeting of the  South Stream Transport B.V. board of directors.


During the meeting, the board of directors also approved a detailed construction schedule and endorsed the company's long-term budget.


Gazprom Export is a fully-owned Gazprom subsidiary and a leading exporter of natural gas, while South Stream Transport B.V. is the operating company in charge of the underwater section of the South Stream gas pipeline which will cross the Black Sea.


The offshore section of the South Stream gas pipeline will run under the Black Sea from the Russkaya compressor station on the Russian coast to the Bulgarian coast. The total length of the Black Sea section will exceed 900 km, its maximum depth will be more than two km, and annual design capacity is expected to be 63 billion cubic meters.


The South Stream gas pipeline project will help Gazprom diversify natural gas export routes via the Black Sea to Southern and Central Europe. Gazprom holds a 50 per cent stake in the project, Italian Eni has a 20 per cent stake, while German Wintershall Holding and French EDF each hold a 15 per cent stake.


The South Stream gas pipeline construction started in December 2012 near Anapa in the Krasnodar Territory.


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