FT: South Stream’s Future 'Looking Increasingly Murky'
The future of Moscow-backed South Stream gas project “is looking increasingly murky” amidst the East-West tensions over Ukraine, the FT’s energy editor Guy Chazan has opined.
According to the author, the pipeline project designed to carry Russian natural gas to Italy and Austria via Bulgaria bypassing troublesome Ukraine has become “one of the biggest casualties of the east-west stand-off over Ukraine”.
In an article headlined “South Stream gas project may now be a pipe dream” Chazan highlights that the project has become “a symbol of the hardening of attitudes between” Russia and the European Union since the start of the crisis in Ukraine.
Tit-for-tat trade sanctions, visa bans and asset freezes have replaced cautious rapprochement between Moscow and Brussels, creating potential for huge delays and making skeptics wonder whether the USD 15 B project will happen at all, Chazan says.
You can read the whole article here: http://www.ft.com/intl/cms/s/0/6871b0a2-2487-11e4-be8e-00144feabdc0.html#axzz3BTakfhIv
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