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Europe needs South Stream, Gazprom says

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Published: Feb. 16, 2012 at 7:49 AM
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MOSCOW, Feb. 16 (UPI) -- An abnormally cold winter that gripped much of Europe is a sign the region needs a natural gas pipeline like South Stream, the chairman of Gazprom said.

Cold weather and heavy snows caused more than 500 deaths in Europe and left remote villages isolated.

Alexei Miller, chairman of Russian natural gas company Gazprom, said the colder weather was proof that South Stream has to be built.

"This abnormally cold winter, which caused a spike in demand for Russian gas in Europe, is another proof that South Stream has to be and will be built," he said in a statement.

Gazprom, which supplies Europe with about 20 percent of its natural gas, had said it was struggling to keep up with regional demand.

Russia aims to allay energy security concerns through its Nord Stream gas pipeline through the Baltic Sea and the planned South Stream project for southern Europe. Transit disputes with Ukraine, which transports the bulk of Russia's gas for Europe, exposed vulnerabilities in the regional energy sector.

Gazprom expects to start construction on South Stream by December.

Topics: Alexei Miller
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