facebook
twitter
rss
account
search
search
 

South Stream gas pipeline construction begins in Bulgaria

Nov. 1, 2013 at 5:34 AM   |   Comments

SOFIA, Bulgaria, Nov. 1 (UPI) -- The start of construction of the South Stream gas pipeline in Bulgaria marks the launch of one of Europe's largest energy projects, Gazprom's chief said.

"A landmark event has taken place today: Construction started on the Bulgarian section of the South Stream gas pipeline, the most large-scale and important project in Europe," Gazprom Chairman Alexei Miller said in a statement Thursday. "This project is a key element of energy security of the whole European continent."

South Stream is meant to add diversity to Russia's export routes through Europe. A contractual dispute between Gazprom and its counterparts in Ukraine, which hosts most of Russia's gas for Europe, adds a layer of risk to conventional routes, officials say.

Miller said the direct connection to Bulgaria, a member of the European Union, means geopolitical risks associated with transit countries are eliminated "forever."

Bulgarian consumers will receive gas from South Stream at a discounted rate once the entire project starts operating in 2015. Gazprom said construction should begin in other downstream countries by year's end.

The pipeline is designed for an annual capacity of 2.2 trillion cubic feet of natural gas.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover E-3 Sentry aircraft tipped for digital cockpit, avionic systems makeover
2
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
3
Saab producing vehicle protection system for unidentified customer Saab producing vehicle protection system for unidentified customer
4
Tony Hayward: Kurdish oil sector open for business Tony Hayward: Kurdish oil sector open for business
5
Pizza Hut hoping the "Skinny Slice" will mean big bucks
Trending News
Video
x
Feedback