Gazprom's South Stream Project Proceeds as Planned

Gazprom could launch the first part of the South Stream gas project in less than two years, Russia’s ambassador to the EU Vladimir Chizhov confirmed to RIA Novosti on Monday. The first delivery could be anticipated to December 2015.

This statement confirms previous declarations of Gazprom's management. The Russian company does indeed seem confident, despite the on-going negotiations in Brussels.

The European Commission has said South Stream cannot operate on EU territory unless it complies with the bloc's energy law, and it could take years to do so. According to the Third Energy Package, an owner of resources cannot own the infrastructure through which resources are transported.

Russia has entered into bi-lateral agreements for the construction of the South Stream pipeline with EU members Bulgaria, Hungary, Greece, Slovenia, Croatia and Austria, as well as Serbia, which is a member of the Energy Community.

The South Stream project moved on last week, with the signing of contracts for its offshore section to be constructed from autumn 2014.