June 24, 2008

Gazprom Official Says South Stream Pipeline Operational By 2014

Text of report in English by Bulgarian national news agency BTA

Sofia, June 23 (BTA) - The South Stream gas pipeline will be set into operation in 2013-2014, Gazprom Deputy Director Sergei Korovin told a video news conference Monday. Korovin is in charge of the South Stream project.

Korovin denied allegations that the project has been postponed, adding that Gazprom and Bulgargas are about to set up a joint stock company soon. Currently, it is being prepared by Bulgarian-Russian joint groups.

Korovin did not confirm Bulgarian Economy Ministry's estimates that Bulgaria annual revenues from the project will equal 300 million US dollars. A change of the pipeline's route is being considered and it is likely to pass through Turkey along the already existing Blue Stream gas pipeline.

Originally published by BTA news agency, Sofia, in English 1250 23 Jun 08.

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