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South Stream not dependent on Gazprom-Naftogaz merger - energy minister

© RIA Novosti . Anton Denisov / Go to the mediabankSergey Shmatko
Sergey Shmatko - Sputnik International
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The possible merger of the Russian energy giant Gazprom and Ukraine's Naftogaz has no bearing on the South Stream project, Russian Energy Minister Sergey Shmatko said on Tuesday

The possible merger of the Russian energy giant Gazprom and Ukraine's Naftogaz has no bearing on the South Stream project, Russian Energy Minister Sergey Shmatko said on Tuesday.

"We do not relate these two issues [South Stream and a Gazprom-Naftogaz merger]. South Stream is an issue of principle for us, a strategic entry to direct supplies for European buyers," he said during a visit to Syria.

Shmatko said the details of the project were a topic for the countries participating in South Stream.

"Everything will be determined by the feasibility study, how flexible the relationship is between the cost of the pipeline and the volume [of deliveries]," Shmatko said.

The energy minister said there was no reason to suspend work on South Stream.

"I believe if we manage to supply large quantities of gas at reasonable prices we will be competitive. As I understand it, Europe needs an additional 100-120 billion cubic meters of Russian gas," he said.

DAMASCUS, May 11 (RIA Novosti) 

 

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