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OIL AND GAS
South Stream still on Russian table
by Daniel J. Graeber
Athens, Greece (UPI) Nov 25, 2014


disclaimer: image is for illustration purposes only

The planned South Stream natural gas pipeline from Russia is a key element to energy security in Europe, Russia's deputy foreign minister said.

Members of the European Parliament in September passed a resolution calling on member states to cancel planned energy sector agreements with Russia, including the South Stream gas pipeline.

Russia is facing pressure from Western powers frustrated with the Kremlin's policies on lingering crises in Ukraine, a former Soviet republic that hosts most of the Russian gas deliveries for the European market.

South Stream is touted by Russia as a way to add diversity to a gas transit network dependent on trilateral ties between Brussels, Kiev and Moscow.

"Most of our partners understand that the South Stream is their guarantee of gas supplies in any situation," Russian Deputy Foreign Minister Alexei Meshkov said Monday during a visit to Greece. "So, I hope we will be able to finally reach solutions that would get this project going. It is one of the key elements of energy security in Europe."

In October, officials in Serbia, a South Stream host country, said preparatory work for the project was proceeding as planned, but "all other matters" related to the pipeline need to be settled by Russia and Brussels.

With new members coming to the European Commission, pipeline planners are busy reviewing the position from Brussels on energy issues with Russia, the deputy minister said.

"The European Commission is being rotated," he said. "It has just begun to work, which is why our dialogue on the South Stream is not maintained at the moment. Russia is ready to resume it."


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