ITAR-TASS: Work on Russian South Stream deep-sea pipeline stretch to start in November

Russia will start laying the deep-sea section of the South Stream gas pipeline intended to diversify its natural gas supply routes to Europe in November. Oleg Aksyutin, head of South Stream Transport, the project operator, said this on Friday.

The laying of pipes in shallow waters will start a little earlier and envisages a pipe line-up in the sea, he said. Russian energy giant Gazprom is implementing the South Stream gas pipeline project to cut Russia’s dependence on transit countries, such as Ukraine.

Funding for the maritime section of the South Stream gas pipeline projects is to be determined by the end of 2014, Oleg Aksyutin added. Now talks are being held with insurance credit agencies. Participants in the project is to be determined by the yearend, he said.
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