Diplomat calls US’ allegations about isolation of Russia in UN 'strange'Russian Politics & Diplomacy April 28, 20:58
Experts say Russian hackers strongly demonized in USRussian Politics & Diplomacy April 28, 20:35
Ferrari drivers clock best time in Practice Two of Russia F1 GP in SochiSport April 28, 19:54
Red Bull’s advisor Marko says Kvyat to possibly remain with Toro Rosso next yearSport April 28, 19:16
Pope Francis blesses pregnant TASS correspondent en route to EgyptWorld April 28, 18:55
Russian diplomat says use of military force against North Korean unacceptable, dangerousRussian Politics & Diplomacy April 28, 18:45
UN chief calls for lowering risk of miscalculation concerning North Korea issueWorld April 28, 18:15
Moscow deeply regrets Montenegro’s decision to join NATORussian Politics & Diplomacy April 28, 18:07
Maria Sharapova reaches Porsche Grand Prix semifinalsSport April 28, 17:50
SOCHI, September 16 (Itar-Tass) —— The South Stream integrated development project will be ready by the end of the first half of 2012, Gazpromexport CEO Alexander Medvedev told reporters in comment on the Friday signing of the South Stream shareholders agreement.
“A final investment decision based on the project, which will be ready by the end of the first half of 2012, will be next step,” he said.
Medvedev called unfounded and illogical the statement by European Energy Commissioner Gunther Oettinger, who had described South Stream and Nabucco as rivals. “South Stream and Nabucco are not rivals; they have different goals,” he said.
“We are diversifying the routes of the delivery of Russian gas under earlier contracts. We have the gas, the market, the contracts and the partners, while Nabucco’s goal is to diversify the sources of the supplies,” he said.
Russia does not take joy in the fact that the Nabucco project has not acquired gas resources, he said. “We take no joy in the hitherto unknown sources of Nabucco gas because Europe will have a gas deficit in the future,” he said.
Medvedev confirmed the estimated value of the South Stream sea segment at about $10 billion and said that the land segment would cost $5.5 billion. “The cost won’t grow much, it will be 15% more or less,” he said.