Russia's Kuznetsova beats Poland's Radwanska in 2016 WTA Finals matchSport October 24, 18:43
Russian athlete files defamation lawsuit over German TV channel ARD allegationsSport October 24, 18:37
Russia’s elite special forcesMilitary & Defense October 24, 18:19
Experts warn of high risks of ruble’s devaluation over midtermBusiness & Economy October 24, 18:13
Russian expert says roadmap on Donbass will include special status provisionsRussian Politics & Diplomacy October 24, 18:07
Russia, OPEC study mechanisms for stabilizing oil production — ministerBusiness & Economy October 24, 17:57
Russian designer of 2018 FIFA World Cup wolf mascot dreams of career at Disney StudioSport October 24, 17:54
Russian ambassador doesn’t believe EU bound to collapseRussian Politics & Diplomacy October 24, 17:49
Russia opens criminal case against six Ukrainian army commanders for shelling civiliansRussian Politics & Diplomacy October 24, 17:34
BELGRADE, October 16. /TASS/.Russia’s South Stream gas pipeline project is beneficial for Europe as it reduces transit risks, however, Russia will not be completing the project all by itself, Russian President Vladimir Putin said on Thursday.
“We cannot unilaterally construct a pipeline system worth billions of dollars if our partners are still thinking whether to develop the project or not,” Putin, who is currently on an official visit to Serbia said.
The Russian president said the South Stream project “is beneficial for the European consumers as it considerably diminishes transit risks.”
The construction of the South Stream pipeline started in late 2012. Under the project, the first deliveries are due in 2016 and the pipeline is expected to become fully operational in 2018.
Last year, the European Commission urged to review bilateral intergovernmental agreements between Russia and EU countries to ensure that they comply with the Third Energy Package, which requires the separation of gas production, transportation and sale to prevent gas suppliers from dominating the infrastructure.
Therefore, Russia says that the European Commission’s requirement to adapt these documents to the Third Energy Package contradicts the basic law principle that legislation cannot have retroactive force.
The Third Energy Package requires, in particular, that a half of the capacities of the pipeline built with Russian money must be reserved for independent suppliers, i.e. for cheap and free transit of Caspian gas to Europe independently from Russia.
Therefore, Russia does not recognize the legitimacy of applying the Third Energy Package to the South Stream gas pipeline project. If Moscow agrees to the EU’s proposal to consider exemptions for the South Stream gas pipeline as part of the Third Energy Package, this will mean that Russia will de facto recognize the legitimacy of using this ultra-liberal regulation.