TNBiz (TNBiz)
Commodities  |  July 22, 2012 18:13:46

Gazprom and ENI will begin in December to build the South Stream pipeline


MOSCOW (MEDIAFAX) - Russian gas giant Gazprom and Italian oil and gas company Eni wants to begin building the South Stream pipeline in December. Has reported on Sunday, Reuters, referring to the office of Russian President Vladimir Putin.

Putin to the Kremlin by one Monday with Italian Prime Minister Mario Monti, one of the main points should be cooperation in the field of energy.

The construction of South Stream pipeline, which is to supply gas from the Caspian Sea, is estimated to cost more than € 15 billion. Since 2015, should be transported to Southern Europe year around 63 billion cubic meters of gas.

"Gazprom and Eni aim is to project final investment decision was taken in November and start construction in December," the Kremlin said in a statement.

The group Eni said earlier this month that it expects final investment decision late this year or early next year.

The consortium comprises South Stream Gazprom and Eni also French group EDF and Germany's Wintershall.

Tomáš Králíček, kralicek@mediafax.cz

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Gazprom a ENI začnou v prosinci stavět plynovod South Stream

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