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2014-10-06 20:40:00

SOUTH STREAM PROGRESS: $40 BLN

SOUTH STREAM PROGRESS: $40 BLN

The Russia-led South Stream undersea gas pipeline is still going ahead, Energy Minister Alexander Novak was quoted as saying on Saturday, following concerns the European Union might be losing enthusiasm for the project.

The natural gas pipeline, which will cost an estimated $40 billion, is designed to carry Russian gas to the centre of Europe on a route that bypasses crisis-hit Ukraine.

The project has yet to be approved by the EU, which is trying to become less dependent on Russian gas. Supplies from Russia currently account for about a third of EU gas imports.

"The South Stream project has not been stopped," Novak was quoted as saying by the Interfax news agency.

"The agreements which were signed remain in force. They can't be cancelled on a unilateral basis."

The European Commission has said South Stream as it stands does not comply with EU competition law because it offers no access to third parties.

South Stream also runs counter to the EU policy of diversifying supply sources to reduce dependence on Russia.

The project has run into problems as a European Commission working group, set up to define a mechanism for managing the pipeline, has stopped its work, Novak said.

"We hope that we will resume such work when the new European Commission is appointed," the minister added.

oilandgaseurasia.com

Tags: RUSSIA, SOUTH, STREAM, GAS, PIPELINE, EU,
SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:25:00

OIL PRICE: NOT ABOVE $80

SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:20:00

GAS FOR CHINA: THE BIGGEST

SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:15:00

RUSSIAN LNG FOR GERMANY

SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:10:00

RUSSIAN YAMAL LNG

SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:05:00

EXXON'S LNG FOR CHINA

SOUTH STREAM PROGRESS: $40 BLN October, 19, 11:00:00

NORWAY'S GAS FOR BRITAIN

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Chronicle:

SOUTH STREAM PROGRESS: $40 BLN
2018, October, 19, 10:55:00

UZBEKISTAN'S NUCLEAR: $11 BLN

AZERNEWS - The estimated cost of construction of nuclear power plant of Russian design in Uzbekistan will be about $ 11 billion, the launch of the first power unit has been planned for 2028, the Aide to the President of the Russian Federation Yury Ushakov said.

SOUTH STREAM PROGRESS: $40 BLN
2018, October, 19, 10:50:00

IRANIAN GAS: 1 BLN CMD

SHANA - Managing Director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati said the supply of one billion cubic meters per day of natural gas by National Iranian Gas Company (NIGC) was one of the goals of the company by 2021.

SOUTH STREAM PROGRESS: $40 BLN
2018, October, 19, 10:45:00

CHINA - BELGIUM NUCLEAR

WNN - China and Belgium have signed a framework agreement on cooperation in the peaceful use of nuclear energy. The agreement was one of several accords signed in Brussels yesterday during a meeting between Chinese Premier Li Keqiang and Belgian Prime Minister Charles Michel.

SOUTH STREAM PROGRESS: $40 BLN
2018, October, 19, 10:40:00

NORWAY'S PETROLEUM PRODUCTION 1.6 MBD

NPD - Preliminary production figures for September 2018 show an average daily production of 1 607 000 barrels of oil, NGL and condensate, which is a decrease of 255 000 barrels per day compared to August.

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