South Stream Gas Pipeline Project to Require USA 20 B

Business | July 30, 2008, Wednesday // 00:00

The project for the construction of the gas pipeline "South Stream" is going to require investments of over USD 20 B, instead of USD 10 M as it was previously calculated from estimates in the beginning of 2008.

This was announced by the Russian Energy Minister Sergey Shmatko cited by Russian press publications.

According to experts, this double increase of the necessary investment amount was possibly going to add additional obstacles for the realization of the gas pipeline project. They have stated that the competitor "Nabucco" project was going to be with 30% to 40% cheaper, which would make it more feasible.

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