Wednesday, February 04, 2015

EC hopes to return to talks with Russia concerning South Stream counterpart projects

The European Commission hopes to return to talks with Russia on the South Stream counterpart projects and regards the Turkish Stream gas pipeline construction unfeasible, the EC energy commissioner Maros Sefcovic said...

"A first assessment is that this would not work," Sefcovic added. He does not think this is a final decision and believes the return to more rational discussion of gas supply routes is possible.

Sefkovic expressed confidence negotiations with Gazprom and Russia on gas supplies to Europe will continue and it is too early to speak about the final decision.

Full transparency of intergovernmental agreements and commercial contracts on gas supplies is needed, the energy commissioner added.

Ukraine will receive assistance of the EU and international institutions for the upgrade of its obsolete gas transportation system to secure stable gas supplies to Europe through its territory, Sefcovic said.

Russian President Vladimir Putin announced on December 1, 2015 during his visit to Ankara that Moscow was dropping plans to build the South Stream pipeline. Instead, Mr. Putin said Russia would pursue an alternative transit route to Turkey in addition to the Blue Stream pipeline and set up a gas hub on the border between Turkey and Greece.

Gazprom CEO Alexey Miller said later the Turkish Stream will be the only route for future supplies of 63 bln cubic meters of the Russian gas currently flowing through Ukraine.

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