The $14 billion South Stream pipeline is expected to annually pump 30 billion cubic meters of Central Asian gas to southern Europe. Serbia and Hungary joined the project, already involving Italy and Bulgaria, earlier this year. Greece announced plans to join South Stream last summer.
Sergei Korovin, deputy head of the Gazprom department for foreign economic relations, said that the remaining part of the natural gas would be supplied under new contracts for gas consumption in Europe. Korovin said the South Stream gas supplies were expected to begin in 2013-2014, adding that Gazprom intended to set up joint ventures with all the countries involved in the project. (rian.ru)
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