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Gasprom Signed an Agreement With South Stream
January 26, 2016 14:14


The Energoholding said that Gasprom has signed a non-discloser agreement with South Stream Transport that should build a sea part of Turkish Stream gas transmission pipeline. It is marked that the subject of signed agreement is to secure a protection for the information received from each other being a commercial secret in order to implement the project of construction of sea gas transmission pipeline from the Russian Federation to Turkey through the water area of the Black Sea.

The Agreement will be effective till 2021. On the 20th of January Gazprom informed about the cancellation of the Agreement concerning the project of South Stream gas transmission pipeline: “South Stream Transport established for constructing a sea part of gas transmission pipeline has agreed to relieve Gazprom from implementation of all its obligations and to cancel a contract of guarantee in relation to Gazprom Export”.

On the 11th of January the Bulgarian newspaper Standard wrote that the work on the project of the gas transmission pipeline would be restarted but this information was denied in the Ministry of Energy of Russia. Constructing of South Stream gas transmission pipeline to Europe was suspended by Russia in December 2014. An indefinite position of EU and Bulgarian Government was named as a reason. Instead of this, it was decided to build Turkish Stream over the territory of Turkey. The capacities of South Stream Transport was planned to be used in the project. It was planned to start operating the gas transmission pipeline in the end of 2016.


Author: Anna Dorozhkina

Tags: South Stream     

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