Ukrainian crisis speeds up the Russian project “South Stream”

As far back as in 2006 and 2009 Russian “Gazprom” shut off natural gas supply to the Ukraine. Russia's annexation of the Crimea and anti-governmental demonstration in Ukraine has contributed to another cut off of the gas supply to the Ukraine and the European countries.

Half of the volume of natural gas, delivered to Europe, is transported via the pipelines of Ukraine. Russia warns Ukraine of the termination of gas supply because of the debt, amounting to $2 billion.

Russia was conscious of the necessity to deliver gas to Europe by-passing Ukraine. So, it has developed two projects. The first one is the gas pipeline “Nord Stream” of 1225 km in length. It goes from Vyborg (north-west of Russia) to Sassnitz (north-east of Germany). It valued at EUR 9 billion. The carrying capacity makes up 55 billion cubic meters a year. It started functioning in 2011. The second Russian project “South Stream” also has gathered pace rapidly lately.

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