Russian president: South stream to ensure reliable gas deliveries to Europe without transit risks

South Stream gas pipeline will ensure reliable gas deliveries to the European consumers without the transit risks, Russian President Vladimir Putin said while greeting participants and guests of the ceremony dedicated to beginning of the South Stream construction in Serbia.

South Stream will connect Russia’s rich gas fields with the main markets on the southeast of Europe along the Black Sea bottom. Therefore, the European consumers will be guaranteed reliable gas deliveries without the transit risks.

Russian President added that “after expansion and upgrade of the gas transportation system, Serbia will “become one of the key energy centres of Europe.” “Cooperation between Russia and Serbia in the South Stream project is part of the constructive partnership between our countries, which is based on friendship between Russian and Serbian people,” concluded Putin. 

South Stream is Gasprom’s infrastructure project for construction of the gas pipeline with the capacity of 63 billion cub.m. to Southern and Central Europe through the Black Sea with the purpose to diversify the routes of natural gas export and avoiding the transit risks.

In February 2013 the Serbian parliament conferred a special status of the South Stream project on its territory.

In March 2013 the long-term contract for delivery of up to 1.5 billion cub.m. of Russian gas a year to Serbia within 10 years was signed. Gas will be transported through the existing route and via South Stream gas pipeline in the future. In 2012 Gasprom delivered 1.5 billion cub.m. of natural gas to Serbia. Construction of the South Stream gas pipeline has started in Serbia.

Construction of the ground section of the South Stream gas pipeline in Serbia started from welding of the first joint of the gas pipeline in Shaikash, reported ITAR-TACC correspondent from the site.—0---