The total cost of the offshore section of the gas pipeline South Stream will exceed 10 billion euros, the project’s CEO Marcel Kramer said at the forum Gas of Russia-2010 on Tuesday.
The project will be financed commercially. Kramer said it was being implemented in keeping with the schedule, Prime-Tass reports.
Last week, Gazprom’s CEO Alexei Miller said the final cost of the pipeline, including the offshore part, would become known in the first quarter of 2011. The pipeline will be completed four months ahead of the original deadline (the end of 2015).