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.
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