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Gazprom: South Stream Pipeline Depends On Ukraine Talks

Realizing OAO Gazprom's (GAZP.RS) South Stream gas pipeline project depends on talks with Ukraine, Gazprom Chief Executive Alexei Miller said Monday, Interfax reported.
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Δευ, 26 Δεκεμβρίου 2011 - 14:25
Realizing OAO Gazprom's (GAZP.RS) South Stream gas pipeline project depends on talks with Ukraine , Gazprom Chief Executive Alexei Miller said Monday, Interfax reported.

Ukraine President Viktor Yanukovich said in September that building the South Stream pipeline through Ukraine, rather than through the Turkish waters of the Black Sea, could reduce construction costs to EUR5 billion. The pipeline's construction costs are currently estimated to be EUR15 billion.

The South Stream pipeline is envisioned to carry up to 63 billion cubic meters of Russian natural gas under the Black Sea to Europe from 2015.

State-controlled gas firm Gazprom holds a 51% stake in South Stream , Italy 's Eni SpA (E) holds 20%, and Electricite de France SA (EDF.FR) and Germany 's Wintershall AG own 15% each.

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