South Stream Pipeline: On Stream

As reported by AFP, Russian President Vladimir Putin clinched a key pipeline deal with Bulgaria on Friday that strengthens Moscow’s grip on European gas markets.  As the article notes:

“…Bulgaria and Russia agreed to build the so-called South Stream pipeline project, which will cross the Black Sea into Bulgaria and then split in two arms, one going northwest to Austria and the other south to Greece and then west to southern Italy.

 It will strengthen Moscow’s grip as the leading supplier of gas to Europe and will rival EU plans for its own pipeline project, Nabucco, aimed at reducing the bloc’s dependence on Russian gas.

…The deal on the South Stream pipeline had not been expected due to an ownership dispute, but both sides agreed to take a 50-percent stake in the Bulgarian stretch….”

This entry was posted on Sunday, January 20th, 2008 at 7:28 am and is filed under Russia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

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