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Russia’s Energy Ministry rejects reports South Stream pipeline project to be resumed soon

January 11, 2016, 15:15 UTC+3 MOSCOW

Earlier Bulgarian media reported that the works on the South Stream project, which is on hold, will be resumed within a few weeks

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MOSCOW, January 11. /TASS/. The status of the South Stream gas pipeline project is unchanged, a representative of the Russian Energy Ministry told TASS on Monday, adding that all related works are still on hold.

"The status is unchanged, the project is on hold," the representative said.

Earlier Bulgarian media reported that the works on the South Stream project will be resumed within a few weeks. According to the Standart newspaper, "Moscow is returning to the "South Stream" pipeline, Bulgarian Prime Minister Boyko Borisov boasted to his immediate surroundings." The project on construction of the natural gas pipeline is likely to be one of the items on the agenda of the upcoming meeting of the Russian-Bulgarian intergovernmental commission on commercial and economic and scientific and technological cooperation, which is due to be held in Sofia in end-January after a 5-year break, Standart reported.

On December 1, 2014 President Vladimir Putin said Russia will not implement the South Stream project amid current environment. Chairman of Gazprom's Management Committee Alexey Miller said the project was no longer relevant.

In December 2014, Italian Saipem received a notice from its client South Stream Transport BV /100% affiliated company of Russia’s Gazprom/ lifting suspension of the pipeline construction. Saipem, a subsidiary of Italian energy company ENI, was awarded with the contract on pipes laying for the offshore segment of the South Stream gas pipeline. The work was suspended at the request of the customer after Russia announced the project shutdown.

The South Stream gas pipeline project worth 15.5 bln euro implied supplies of 67 bln cubic meters of gas per year to Europe.

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