Total cost of "South Stream" estimated at € 16 billion

The total cost for the construction of the gas pipeline "South Stream" has been estimated at € 16 billion, the first deputy head of the Gazprom department of project management Alexei Serebryakov said today.
The agency Bloomberg has stressed that this figure is only approximate. A more precise figure can be given only after the completion of all tenders next summer.
The present estimate does not differ significantly from the estimate given by gazprom to the European Commission last year whenthe total cost of the project was estimated at the level of € 15,5 billion.