South Stream project could be resumed, says Russia

Oil&Gas Materials 15 February 2017 16:03 (UTC +04:00)

Baku, Azerbaijan, Feb.15

By Leman Zeynalova – Trend:

South Stream gas pipeline project, which was suspended in 2014, could possibly be implemented, said Russia's commercial attaché to Bulgaria Igor Ilingin.

He made the remarks during the business forum in Bulgaria’s Varna city, Bulgarian media reported.

South Stream project envisaged transportation of natural gas from Russia through the Black Sea to Bulgaria and through Serbia, Hungary and Slovenia further to Austria.

Russia suspended the South Stream project, designed to supply Russian gas to Europe bypassing Ukraine, in December 2014.

Russia said "the EU's non-constructive position" was the reason for the project's suspension. Then it was decided to build the Turkish Stream through the territory of Turkey, instead of the South Stream.

Moreover, the commercial attaché said that Russian investors also show interest in other projects which can be implemented in Varna port, as thanks to its favorable location, this port has been bringing big profit in recent times.


Follow the author on Twitter: @Lyaman_Zey