Commissioner Oettinger: South Stream Is 'Interesting'

The European Commission will have a "constructive attitude" towards Russia-sponsored South Stream gas pipeline project, stated EU Energy Commissioner Guenther Oettinger.

"When the pipeline reaches the territory of the EU, it will have to comply with EU energy regulations," said Oettinger in an interview for the Bulgarian National Radio Thursday.

Thursday Bulgaria and Russia signed an investment agreement on Bulgaria's participation in the project.

"South Stream is a very interesting project, which the European Commission is ready to address constructively," explained the commissioner.

He added that the EC still does not have many details regarding the project, including routes, capacities and final destination of the pipes.

"What is more, whe still do not know whether it will be asked that South Stream be expempted from the EU's Third Energy Package on unbundling of ownership," added Oettinger.

He said that should such an exemption be requested, the EC is ready to negotiate and to be both strict and just.

The EU Energy Commissioner said the stage is too early to assess the project and its impacts further in detail.

End of October, EurActiv published a report saying that EC officials were puzzled by the speed at which South Stream is being implemented.

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