Putin on South Stream: Europe doesn’t want it, we won’t build it

Russia’s president Vladimir Putin has said that Russia will not proceed with the construction of the 931 kilometers long South Stream pipeline in the Black Sea. The pipeline would connect Russian natural gas reserves with consumers in the European Union.

During his visit to Turkey, Putin said: “… taking into account the European Commission’s position, which is not conducive to implementing this project, taking into account the fact that we have only recently received permission from relevant authorities in the Netherlands – granted, it was a positive decision, and taking into account that we still have not received permission from Bulgaria, we feel Russia cannot continue implementing this project under the existing circumstances.”

Putin added: “I think it’s clear to everyone that it would be ridiculous to start the construction in the sea, reach the Bulgarian shore and stop. So we are forced to reconsider our participation in this project.”

Putin said that Europe is creating obstacles in the implementation of the project, and said that if Europe doesn’t want the pipeline, the project would be stopped. He said that Russia would turn elsewhere and focus its gas flows to other regions of the world.

“We will promote them (energy resources) in other markets, and Europe will not receive those volumes – at least,  from Russia. We feel that this does not correspond to Europe’s economic interests and is detrimental to our cooperation.”

“But that was our European friends’ choice; there’s nothing special about this; ultimately, they are the buyers and it is their choice,” he said.

Over its planned design life of half a century, the South Stream Offshore Pipeline would supply up to 63 billion cubic meters of gas each year.

South Stream infographics

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply