Gazprom: South Stream on Track (Russia)

Alexey Miller, Chairman of the Gazprom Management Committee held a meeting on the South Stream project implementation.

Taking part in the meeting were Leonid Chugunov, Head of the Project Management Department, Pavel Oderov, Head of the International Business Department, and Marcel Kramer, Chief Executive Officer of South Stream.

The meeting participants reviewed in detail the project’s current status and noted that South Stream was fully on schedule. Particular attention was paid to meeting all conditions required to speed up the gas pipeline construction launch as early as this December, in line with the assignment by Vladimir Putin, Prime Minister of the Russian Federation. It was noted that the final investment decision on South Stream would be made in November of the current year.

At the meeting, Alexey Miller approved the South Stream Construction Charter. The document specifies the scope of work to be done at the onshore and offshore sections of the project.

“We have brought South Stream to the actual construction stage. It is no exaggeration to say that Gazprom is busy with the project 24 hours a day. This abnormally cold winter, which caused a spike in demand for Russian gas in Europe, is another proof that South Stream has to be and will be built. Europe is in need for the new corridors delivering Russian gas with no transiters,” said Alexey Miller.

[mappress]

LNG World News Staff, February 16, 2012