Gazprom President Alexey Miller said that South Stream Construction may start on December 7, depending on progress in Bulgaria, Hungary, Slovenia and Serbia, RIA Novosti reports.
Investment decisions with Hungary, Slovenia and Serbia have already been concluded. The final investment decision for the sea section of the pipeline is expected to be signed on November 14, the deal for the Bulgarian section will be signed on November 15.
South Stream will run from Jugby (Russia) along the Black Sea to Varna (Bulgaria). It will split into a branch to Italy and one to Austria. The project is worth about 8.6 billion euro, it will have a capacity of over 60 billion cubic meters of gas annually and is expected to be launched in 2015.
