ITAR-TASS: Russia’s South Stream gas pipeline project beneficial for Europe — Putin

Russia’s South Stream gas pipeline project is beneficial for Europe as it reduces transit risks, however, Russia will not be completing the project all by itself, Russian President Vladimir Putin said on Thursday.

“We cannot unilaterally construct a pipeline system worth billions of dollars if our partners are still thinking whether to develop the project or not,” Putin, who is currently on an official visit to Serbia said.

The Russian president said the South Stream project “is beneficial for the European consumers as it considerably diminishes transit risks.”

The construction of the South Stream pipeline started in late 2012. Under the project, the first deliveries are due in 2016 and the pipeline is expected to become fully operational in 2018.
MORE