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Preparations for building Slovenian stretch of South Steam goes as scheduled

February 27, 2012, 23:37 UTC+3
According to the agreement, the joint venture has to be created in March of this year.
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LJUBLJANA, February 27 (Itar-Tass) —— Preparations for the construction of the Slovenian section of the South Stream gas pipeline are going as scheduled, Russian Gazprom CEI Alexei Miller said at his meetings with Slovenian President Danilo Turk and Prime Minister Janez Jansa on Monday, February 27.

The sides noted that all disputable questions relating to the preparations for the implementation of the project have been resolved. It was agreed that if new questions arise, they will be solved urgently, the press services of the presidential and the prime minister said.

The sides also considered concrete steps to prepare the construction of the Slovenian section of the South Stream gas pipeline. They agreed to set up a joint venture for the construction and subsequent operation of the Slovenian section of the pipeline.

The agreement was reached between Plinovodi Director Marjan Eberlinc and Gazprom CEO Alexei Miller, who is in Ljubljana on a working visit.

According to the agreement, the joint venture has to be created in March of this year.

Plinovodi is convinced that the implementation of the South Stream project will contribute to the future energy policy and ensure reliable gas supplies to Europe and their diversification.

Miller told the prime minister about the details of the project and said that investments in the Slovenian section would amount to one billion euros.

“Such volume of investment opens up new prospects for economic growth and creation of new jobs in the country,” Jansa said.

South Stream is scheduled to become operational in 2013. This is a strategic project for Europe's energy security and should be implemented by the end of 2015. Work is currently underway to draft a feasibility study for the marine section across the Black Sea and the surface section running through transit countries.

The overall capacity of the marine section of the pipeline will be 63 billion cubic meters a year. Its cost is about 8.6 billion euro.

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