Russian energy giant Gazprom will make a final investment decision on the South Stream gas pipeline project intended to carry natural gas to Europe, bypassing transit countries, in November this year, Gazprom said on Wednesday.
Gazprom CEO Alexei Miller held a meeting on Wednesday to discuss implementation of the South Stream project.
“Special attention was paid to fulfilling all necessary conditions for the accelerated start of the gas pipeline construction already in December this year in line with the instruction given by Prime Minister Vladimir Putin. The meeting noted that a final investment decision of the South Stream would be taken in November this year,” the statement said.
The South Stream pipeline is to transport up to 63 billion cubic meters of gas to central and southern Europe, diversifying Russian gas routes away from transit countries such as Ukraine. Construction will start in December 2012, and not 2013 as previously planned.
Russia plans to launch South Stream in 2015. Last December Turkey gave Russia the final go-ahead needed to build the pipeline.
