Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Gazprom to Power Ahead with 2 South Stream Pipes from Russia to Bulgaria
GAZPROM TO POWER AHEAD WITH 2 SOUTH STREAM PIPES FROM RUSSIA TO BULGARIA
Date: 04/06/2011
Source: novinite.com
Gazprom to Power Ahead with 2 South Stream Pipes from Russia to Bulgaria

Gazprom will start construction of the South Stream gas pipeline to pump natural gas to Europe along the bed of the Black Sea with two parallel legs, Gazprom CEO Alexei Miller said on Monday.

"We plan to build two pipeline legs with a capacity of 15.5 billion cubic meters each; they will be built in parallel," Miller said, as cited by RIA Novosti.

The South Stream pipeline is intended to transport up to 63 billion cubic meters of natural gas to central and southern Europe, diversifying Russian gas routes away from transit countries such as Ukraine. Construction will start in December 2012, and not 2013 as previously planned.

Overall, Gazprom plans to build four pipeline legs for the project. A board of directors meeting for the South Stream operator has been scheduled for June to present information to shareholders for an investment decision on the project, Miller said.

The pipes will go from Russia to Bulgaria via the Black Sea; in Bulgaria it will split in two – with the northern leg going through Serbia, Croatia, Hungary, and Slovenia to Austria and Northern Italy, and the southern leg going through Greece to Southern Italy. Recent reports have indicated, however, that Russian energy giant Gazprom may give up on the construction of the offshore section of the South Stream gas pipeline to Austria.

The Black Sea underwater section of South Stream between Russia and Bulgaria will be 900 km long, and will be constructed at a maximum depth of 2 km.

In order to service the supplies for South Stream, Russia will expand its own gas transit network by building additional 2 446 km of pipelines with 10 compressor stations with a total capacity of 1473 MW, a project to be called "South Corridor" and to be completed in two stages by 2019.

The construction of the South Stream gas pipeline will begin in December 2012, and the first supplies for Europe are scheduled for December 2015.

The pipeline's core shareholders include Gazprom with 50%, Italy's Eni with 20% and Germany's Wintershall Holding and France's EDF with 15% each.

Gazprom has already established national joint ventures with companies from Austria, Bulgaria, Croatia, Slovenia, Greece, Hungary and Serbia to manage the onshore section of the South Stream pipeline.

Bulgaria recently committed itself to speeding up the construction of the Russian-sponsored pipeline on its territory, since on January 1, 2013, the EU is introducing new requirements for the access to energy networks.


Topic: Economy



Featured District
SHUMEN DISTRICT AND CITY INFORMATIONShumen
Invest Bulgaria Charts
Unemployed People in Bulgaria
Unemployed People in Bulgaria

Consumer Price Index of Bulgaria (annual change)
Consumer Price Index of Bulgaria (annual change)

See all charts
Did You Know?
Vitosha National Park
Vitosha National Park
Vitosha National Park, located right next to Sofia, offers endless options for recreation ... More

Rila Monastery was founded in 10 century by St. Ivan of Rila. It is the greatest Bulgarian monastery - unique architecture, exquisite wall paintings, brilliant iconostasis, a rich collection of icons and old manuscripts - a true masterpiece of the National Revival Period. Under UNESCO's protection, Rila Monastery is one of Bulgaria's biggest sanctuaries.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2025 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


Лимузини под наем Electric and Hybrid Modules Repair SEO оптимизация Bulgaria Translation Bulgarian Agriculture
Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works,. Maintained by Website Maintenance, the kings of Website Migration. Supported by WorldStreet


Our Featured Members