- South Stream
The South Stream Offshore Gas Pipeline is a new world-class gas transportation system. Designed to directly connect European Union (EU) consumers to the world’s largest gas reserves in Russia, it will start bringing gas to the countries of Central and South-Eastern Europe by the end of 2015.
South Stream will help Europe meet its ambitious energy and environmental objectives by securely delivering gas – the cleanest fossil fuel – and by enabling the cost-efficient introduction of renewable energy sources – all to provide reliable energy supplies while facilitating the reduction of CO2 emissions.
A key element of this system is a set of state-of-the-art 925 km underwater gas pipelines through the Black Sea and related onshore landing facilities that is currently being planned by South Stream Transport B.V., a joint venture of large and well-established Italian, French, German and Russian energy companies. The Project has an investment budget of several billion Euros, financed by the shareholders and other commercial investors. This long-term investment will provide a significant stimulus for many sectors of the European economy and has the support of a large number of governments in the EU and elsewhere.