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Austria to sign South Stream agreement

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Published: April 22, 2010 at 9:04 AM
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VIENNA, April 22 (UPI) -- The government of Austria plans to sign a weekend agreement with Moscow to take part in the South Stream natural gas pipeline, officials in Vienna said.

Moscow aims to diversify its transit options for natural gas to Europe. Disputes with Kiev over payments and debt make Russia eager to find alternative export routes.

Waltraud Kaserer, a spokesman for the Austrian Economics Ministry, was quoted by the Sofia News Agency as saying that an "intergovernmental agreement" between Russia and Austria on South Stream was expected Saturday in Vienna.

South Stream will pass under the Black Sea, carrying 2.2 trillion cubic feet of natural gas per year through Bulgaria to Europe.

Representatives from Serbia, Croatia, Hungary, Italy, Slovenia, Bulgaria and Greece have joined the project led by Italian energy company Eni and Russian gas monopoly Gazprom.

Austria also supports the rival Nabucco gas pipeline, meant to move non-Russian gas to European customers.

South Stream is scheduled to deliver its first gas by 2015.

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