Bloomberg News

Gazprom Plans to Start Building South Stream Pipeline This Year

January 23, 2012

Jan. 20 (Bloomberg) -- OAO Gazprom, the world’s biggest gas producer, may start building the South Stream gas pipeline to the European Union in December 2012.

Management will present the plan to the board for approval in February, the Moscow-based company said today in an e-mailed statement.

Prime Minister Vladimir Putin ordered Gazprom, Russia’s gas export monopoly, to move up the start of construction from 2013, according to a transcript of a meeting between the premier and Chief Executive Officer Alexey Miller published Dec. 30 on the government website.

To contact the reporter on this story: Jake Rudnitsky in Moscow at jrudnitsky@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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