Gazprom has discussed the South Stream construction schedule

Gazprom has discussed the schedule of the construction of the South Stream gas pipeline in the variant of the maximum capacity of 63 bln cubic meters a year, the company reports.
According to the company, at the present time there are 5 variants of the pipeline laying being discussed: Russia-Bulgaria-Serbia-Hungary-Austria; Russia-Bulgaria-Serbia-Hungary-Slovenia; Russia-Bulgaria-Serbia-Hungary-Austria and Bulgaria-Greece-Italy and a variant taking into account all the above mentioned variants. Moreover, the variant of the pipeline laying Russia-Romania-Serbia and further is being considered.
The offset from the route is planned from Serbia to Croatia now. So in these variants Macedonia, that has been interested in the project, Montenegro, that decided to join in February, are not taken into account.
The final route of the gas pipeline was planned to be determined together with the approval of the investment decision, which is to be done in November. 
The chairman of the Board of Gazprom OAO, A. Miller, held a meeting on the issues of the South Stream's realization. The head of the department for project management, L. Chugunov, head of the department of foreign economic activity, P. Oderov and CEO of the South Stream project, M. Cramer, took part in the meeting. 
In conformity with the order of the President of Russia, D. Medvedev, the participants of the meeting discussed in detail the schedule of the South Stream pipeline's realization that will be realized in the variant of the maximum capacity of 63 bln cubic meters a year, is reported.
Particular attention was paid to the issues of the selection of the contractors to carry out the assessment of the impact on the environment and the technical projections. The issues of the construction of the objects of the infrastructure on land for the construction of the gas pipeline, that will start in December 2012, were discussed. Moreover, the participants of the meeting discussed the process of the development of the integrated final investment decision which will be made in November 2012.
On December 28th 2011 Turkey issued the final permission for Russia for the laying of the South Stream in its waters having eliminated the last obstacle in this project. After that the Prime Minister of Russia, V. Putin, on December 30th ordered Gazprom to accelerate the start of  South Stream's realization, launching it in 2012, but not in 2013 as its was planned. At the present time Gazprom has a new schedule of the gas pipeline's construction that will start in December 2012.
Gazprom hasn’t reported on the possible period of the postponing of the launch of the gas pipeline. However, in November 2010 the head of the holding, A. Miller said that with the agreement on the positions of all the parties the launch of the pipeline might be accelerated and be completed not in December 2015, a was planned, but 4 months earlier. 
The South Stream pipeline is being realized with the aim of the diversification of the natural gas supply routes to the European consumers. For the realization of the land part of the project Russia has signed intergovernmental agreements with Bulgaria, Serbia, Hungary, Greece, Croatia and Austria. In Q3 2011 the development of the technical and economic assessment of South Stream was over, it comprised the technical and economic assessment of the sea part and the technical and economic assessment of the sites on the territory of the Central and Southern Europe. 
The gas pipeline is planned to have 4 branches of 15.57 bln cubic meters each. The launch of the first one is planned for December 2015 yet, reaching the full capacity (63 bln cubic meters) is expected by 2018. The approximate cost of South Stream is €15.5 bln, €10 bln of which is meant for the sea part, €5.5 bln – for the land.
Gazprom, Eni, Wintershall and EDF signed a shareholder agreement of the sea part of South Stream on September 16th. The stakes are the following: Gazprom-50%, Eni – 20%, Wintershall – 15% and EdF – 15%. 

http://rosinvest.com/novosti/907807
Translated by Galiya Musabekova 

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