South Stream Gas Pipe Will Not Be Abolished

Posted: 08/12/2014 03:08:55   Hits: 2761
It is reported that in recent days, Gerhard Reus, the CEO of OMV states that South Stream gas pipe in contemplation will not be abolished although the western and Russia confront each other because of the crisis in Ukraine.
 
The CEO said, “The gas pipe is a program which will last for 50 year. For that, South Stream gas pipe should be considered from realistic perspective.” He also stressed that customers expected to utilize the gas pipe to transmit gas. Nevertheless, none of possibility of sanctions on Russian gas was imported.
 
What is more, Reus also points out that Russia has already begun to transmit gas through Opal gas pipe which crossing through Germany. Gas transmission capacity of Opal gas pipe is as many as 36 billion cubic meters. It will connect with North Stream gas pipe which is a new artery crossing through the Baltic Sea and existing gas transmission network, though Gazprom has not yet been approved by EU for utilizing Opal gas pipe with full load.
 
Reus insists that increasing the quantity of gas pipes to Europe contributes to ensuring energy security in Europe and that is pragmatic.
 
In April, Alexei Miller, the CEO of Gazprom discussed with the representatives of OMV about the possibility of expanding gas supplying to consumers in Europe without crossing through Ukraine. In June, Gazprom signed Austria South Stream Joint Venture Shareholder Contract with OMV, confirming the construction of South Stream gas pipe in Austria and working principle of operation in the future. 
 
South Stream Gas Pipe Will Not Be Abolished
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