France entered into “South Stream”

Viliyana Filipova — Sun, 29 Nov 2009 09:53:19 +0000

France is now officially part of the gas pipeline project South Stream. This became clear after French energy giant Electricite de France (EDF) signed a contract with Russian gas monopoly Gazprom to join consortium building the gas pipeline South Stream. News was delivered personally by Russian Prime Minister Vladimir Putin, who is visiting in France. We recall that speculation on the participation of France to be strengthened through direct September, and then wrote to the Russian press. At last unofficial information France will take 10% of the company managing the project. At this stage, Gazprom and Italy’s Eni, divided in equal participation in it. The pipeline aims to diversify supply routes of Russian gas to European Union, bypassing Ukraine. Power of the pipeline system will be 63 billion cubic meters. South Stream project envisages the construction of underwater pipe that will link the Bulgarian Black Sea with the Russian coasts. Pipeline from Bulgaria will be divided into two sections. The first would have notified the south of Greece and Italy, and others will continue to the northwest to Central Europe.
By implementing the gas pipeline project South Stream “Bulgaria will take place half of the map of Ukraine, Gazprom, said recently BGNES spokesman for the Russian gas giant Sergei Kuprianov.

Financial Communique » LNG

France entered into “South Stream”