South Stream rises in price by 230 billion rubles

In response to the Government’s call to save money Gazprom increased budget of South corridor almost 1.5 times to 738.5 billion rubles

The cost of the construction of the South gas corridor – provided for gas supply from Russia to the Gazprom’s export gas pipeline South Stream –grew by 45% to 738.54 billion rubles, Gazprom reports on its site. A representative of Gazprom couldn’t explain the reason of the budget growth. At the same time, today Gazprom, as well as other infrastructure monopolies, by order of the Ministry of Economic Development, must present 5-year plan of costs decrease by 10% every year to the Ministry.