ITAR-TASS: Gazprom board to mull buying stake in South Stream Austria
The board of directors of Russian gas giant Gazprom will consider acquiring a stake in South Stream Austria, the operator of the South Stream pipeline’s onshore part, on October 29, the giant said in a statement Tuesday.
Gazprom will own the company on a parity basis with Austria’s OMV.
The Austrian part of the pipeline measures around 50 kilometers and its capacity is projected at up to 32 billion cubic meters of gas per year.
The South Stream pipeline will carry Russian gas to the EU bypassing Ukraine. Gas will be pumped to the Bulgaria’s Black Sea port of Varna before extending overland through Serbia, Hungary, and Slovenia to supply gas to the Western Europe via Italy and Austria. The pipeline’s capacity amounts to 63 billion cubic meters.