is a system of new gas pipelines running on the bottom of the Black Sea that will connect Russia to the European Union.
The underwater Black Sea pipeline will be about 900 kilometres long, at a maximum depth of over two kilometres.
The aggregate investments into the South Stream are estimated at over $10 billion.
The South Stream’s design capacity will be determined within a feasibility study. It is expected the pipeline will pump up to 30 billion cubic metres of gas per annum.
Italian Eni S.p.A. acts as Gazprom’s partner in the construction of the project offshore section.
Several possible routes of the onshore section across the EU members are being currently considered.
To implement the onshore section of the project outside Russia intergovernmental agreements have been signed with a number of South and Central European countries, which may be crossed by the gas pipeline route. These involve Bulgaria, Serbia, Hungary and Greece. The negotiations are underway aimed at entering into the relevant agreements with Slovenia and Austria.