EU will return to the South Stream project, says expertYesterday, the president of Bulgaria Rosen Plevneliyev said that the South Stream project is a joint venture between Russia and the EU, and not only Russian and Bulgaria. "The resolution of this question is in the hands of Moscow and Brussels," Plevneliyev said.The gas and oil analyst of Troyka-Dialogue, Valery Nesterov, told VK that at the moment South Stream is not important to the EU because the Ukrainian problem is in first place."They are optimistic for the next two years because they have reserves. The demand for gas isn't growing," Nesterov said.According to analyses of Western consulting firms, however, the production of gas in Europe and the demand for imported gas will increase in the future, Nesterov explained."Clearly there is a pause in the realization of South Stream, and Russia does not have to pursue it urgently, but rather according to the economic opportunities and the growth of demand for Russian gas. Then economic calculations should be prioritized over politics. This break with the South Stream came at quite a timely moment, because Gazprom has some financial questions. The company now needs to concentrate on the Yamal deposit and the projects of gas supplies to China," the expert believes."For Europe it is not urgent either. They do not allow Russia to fully exploit the North Stream. I think that the situation will already change in two years. Europe will renew interest in broader cooperation with Russia. And then we will agree on South Stream in this or that format," the expert concluded.
Yesterday, the president of Bulgaria Rosen Plevneliyev said that the South Stream project is a joint venture between Russia and the EU, and not only Russian and Bulgaria. "The resolution of this question is in the hands of Moscow and Brussels," Plevneliyev said.
The gas and oil analyst of Troyka-Dialogue, Valery Nesterov, told VK that at the moment South Stream is not important to the EU because the Ukrainian problem is in first place.
"They are optimistic for the next two years because they have reserves. The demand for gas isn't growing," Nesterov said.
According to analyses of Western consulting firms, however, the production of gas in Europe and the demand for imported gas will increase in the future, Nesterov explained.
"Clearly there is a pause in the realization of South Stream, and Russia does not have to pursue it urgently, but rather according to the economic opportunities and the growth of demand for Russian gas. Then economic calculations should be prioritized over politics. This break with the South Stream came at quite a timely moment, because Gazprom has some financial questions. The company now needs to concentrate on the Yamal deposit and the projects of gas supplies to China," the expert believes.
"For Europe it is not urgent either. They do not allow Russia to fully exploit the North Stream. I think that the situation will already change in two years. Europe will renew interest in broader cooperation with Russia. And then we will agree on South Stream in this or that format," the expert concluded.
