Russian natural gas giant OAO Gazprom (GAZP.RS) and the Romanian
authorities Wednesday signed a memorandum of intent on the possibility that the
South Stream pipeline may transit Romania, Gazprom's chief executive Alexei
Miller said, news agency Mediafax reported.
"Following today's discussions (with Romanian officials), we've signed a
memorandum of intent for a technical and economic analysis of a South Stream
pipeline transiting Romanian territory," Miller said at the end of a
meeting with Romanian Premier Emil Boc.
Gazprom has already completed feasibility studies for all the countries
included in the project and is now undertaking the technical-economic study for
the entire South Stream project, Miller said. If the Russian authorities
sanction
Romania
joining the project, the two countries can sign an inter-government agreement,
he added.
Miller said the talks with Romanian representatives looked at ways to optimize
the project.
Additionally, Gazprom and
Romania
agreed to sign a deal in the energy sector and to co-operate at expert level on
oil-related projects, Miller said.
The South Stream pipeline will have a length of 900 kilometers and is estimated
to transport 63 billion cubic meters of natural gas annually. The project is
seen as a rival to the planned Nabucco pipeline, in which
Romania
already is committed to participate.
Nabucco is scheduled to deliver approximately 31 billion cubic meters of gas
annually from the
Caspian Sea
to
Central
Europe
via
Turkey
and
Romania
,
bypassing
Russia
.
Both
projects are due for completion sometime in 2015.