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S Steam to go operational in time – Gazprom’s CEO

October 03, 2011, 16:07 UTC+3

Earlier, Miller said that “the project is economically effective and may be implemented from the technical point of view”

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MOSCOW, October 3 (Itar-Tass) —— All work on the South Stream continues according to the schedule, and the project will go operational in time, Gazprom’s CEO Alexei Miller said on Monday.

“South Stream has achieved great progress in the tasks like preparation of the united feasibility study, and in involvement of new partners in implementation of the sea part of the gas pipeline,” the company’s press service quotes Miller as saying. “The entire process is strictly in the framework of the schedule, and we may say with confidence that South Stream will go operational in time.”

“The company’s profile divisions are ordered to continue implementation of the South Stream project in the framework of the united feasibility study and to prepare the necessary project documentation,” official reports of Gazprom’s Information Department reads.

Earlier, Miller said at the meeting with Russia’s Prime Minister Vladimir Putin that “the project is economically effective and may be implemented from the technical point of view.”

“We follow the schedule and are ready to confirm that by December of 2015 the project will be finalized and the first commercial gas will be supplied to consumers via the South Stream,” he told Putin.

Gazprom implements the project to build the South Stream gas pipeline via the waters of the Black Sea to countries of Southern and Central Europe jointly with Italy’s ENI, Germany’s Winterhall and Electricite de France. Under the project, Gazprom controls 50 percent, ENI – 20 percent, Winterhall and EDF – 15 percent each. Gazprom signed intergovernmental agreements on implementation of the onshore part of the project with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia, and Austria.

As of now, the united feasibility study of South Stream is ready. It includes feasibility study of the offshore part and that of national parts of the pipeline, which cross territories of countries in Southern and Central Europe.

The united feasibility study covers: major technical solutions in the project and estimation of their implementation, evaluation of ecological security and environmental activities, analysis of economic effectiveness of the project as per capital and exploitation expenses. Results of feasibility study are basis for investment decisions and further design of the project’s documentation on facilities of the gas transporting system for supplies of Russian natural gas to the markets of Central and Southern Europe via the South Stream gas pipeline.


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