UPI: Gazprom: All South Stream offshore contracts signed

Russian energy company Gazprom said all contracts for the construction of the South Stream gas pipeline's offshore section have been signed.

Gazprom touts South Stream -- which would stretch about 575 miles long offshore and more than 900 miles through the territory of southern European countries -- as an option to ensure European gas supplies are stable.

Ukraine hosts the bulk of Russian gas supplies for Europe, exposing the European energy sector to the risks associated with ongoing disputes between Kiev and the Kremlin.

Gazprom said it's concluded all of the contracts needed to start construction of the onshore section of the pipeline later this year. It's placed orders for more than 150,000 sections of pipeline already.
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