Austria Joins South Stream in April - Russian Minister

Business » ENERGY | April 8, 2010, Thursday // 12:05
Bulgaria: Austria Joins South Stream in April - Russian Minister Russian news agencies are quoting Sergei Shmatko (pictured) as saying Thursday that this would be the final deal before construction begins later this year. Photo by EPA/BGNES

Austria will join the Russian-backed South Stream pipeline project in April, Russia's Energy Minister said, as cited by local media.

Russian news agencies are quoting Sergei Shmatko as saying Thursday that this would be the final deal before construction begins later this year.

South Stream is a joint venture of Russia's Gazprom and Italy's Eni. The gas line is to be completed by 2015. With it Russia aims at eliminating dependence from transit countries.

The South Stream would ship 63 billion cubic meters annually of natural gas from Russia and Central Asia to Europe under the Black Sea.

Serbia, Hungary, Slovenia, Bulgaria, Greece, Italy and Croatia are also signed onto the deal.

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