South Stream
ProposedOnshore & Offshore
Russia
South/Central Europe
In December 2011, Turkey granted all necessary and unconditional permits for the proposed South Stream gas pipeline, allowing construction to proceed.
The South Stream Pipeline will travel 900 km under the Black Sea, transporting up to 63 Bcm/a of natural gas from Russia to South and Central Europe. In June 2010, Gazprom and Greek company DESFA established a joint venture, South Stream Greece, for the implementation of the Greek section of the South Stream Pipeline project. In order to construct the onshore section abroad, Russia has made intergovernmental agreements with Bulgaria, Serbia, Hungary, Greece and Slovenia and Austria. The pipeline is expected to cost between $US28-36 billion and is scheduled for service before the end of 2015.
In September 2011, Wintershall Holding and EDF signed a shareholder agreement for the offshore section of the South Stream gas pipeline. Pursuant to the agreement, Wintershall and EDF each acquired a 15 per cent stake in the offshore section of the South Stream project through a 30 per cent reduction of Eni’s stake.
As a result, the shareholding structure of the South Stream project’s offshore section is as follows: Gazprom – 50 per cent, Eni – 20 per cent, Wintershall Holding and EDF – 15 per cent each.
Bulgarian Energy Holding and OAO Gazprom have also selected a joint venture between Ukrainian Yuzhniigiprogaz and Bulgaria’s Gastec BG as the feasibility study contractor for the Bulgarian section of the South Stream Pipeline.
Construction for the project has been fast-tracked and is scheduled to begin in December 2012 instead of 2013 as originally planned.
Gas
900
63 Bcm/a
-
Contractors/Suppliers
| Constructor Company |
Related articles
· South Stream gets fast-tracked Wed, 1 February 2012
· South Stream receives Turkish approval Tue, 17 January 2012
· South Stream finds new shareholders Mon, 19 September 2011
Legend
- cf
- : cubic feet
- cm
- : cubic metres
- t
- : tonne
- B
- : billion
- MM
- : million
- bbl
- : barrel
- MW
- : mega watts
- boe
- : barrels of oil equivalent
- /d
- : per day
- /a
- : per annum
- GJ
- : giga joules
- psi
- : pounds per square inch
- TJ
- : tera joules
- PJ
- : peta joules
- EJ
- : exa joules
- ℃
- : Celsius
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