The cost of the “South Stream” has grown by almost half – RBC

The cost of the "South Stream" has grown by almost half – RBC

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The total cost of construction of the pipeline “South Stream” will be approximately € 23,5 billion, which is about one and a half times higher than the initial estimates. This was during the IV St. Petersburg International Gas Forum First Deputy Head of the Financial and Economic Department of “Gazprom” Alexander Ivannikov, Interfax reported. According to him, in the € 14 billion cost section of the pipeline crossing the Black Sea. Ground part of the “South Stream”, passing through the territory of Bulgaria, Hungary, Slovenia, Serbia, Croatia and Austria, will be cheaper – “all» € 9,5 млрд.

Initially, the total value of the “South Stream” was estimated at € 15,5 – 16 billion, of which the share of the offshore section accounted for € 10 billion. However, if the representatives of “Gazprom” stressed that the exact amount will be known after the results of the tenders for the project.

Ivannikov also noted that “Gazprom” intends to use the construction of the “South Stream” guarantee EXIAR (Russian Agency for the Insurance of Export Credit and Investment).

At the end of 2013 The Board of Directors of “Gazprom” has increased the cost of the project “Southern Corridor” – creating a system of gas pipelines passing through the territory of Mordovia, Nizhny Novgorod, Penza, Saratov, Volgograd, Voronezh and Rostov regions, Krasnodar Territory as well, and ensure an uninterrupted supply of gas to the gas pipeline ” South Stream. ” Then it was reported that the cost of the “Southern Corridor” has been increased from 509.6 billion to 738.5 billion rubles., Or about 45%.

“South Stream” – a global infrastructure project “Gazprom” gas pipeline, where it is planned to annually export to countries in South and Central Europe to 63 billion cubic meters. meters of gas. The length of the offshore section of the “South Stream”, passing through the Black Sea, is about 931 km, the maximum depth of the – 2200 m. Capacity each four thread pipeline is estimated at 15.75 billion cubic meters. meters of natural gas per year. The expected service life is estimated at least 50 years old.

It is expected that the first gas “South Stream” will be delivered at the end of 2015 and the projected capacity of the pipeline will be released in 2018. Russia signed an intergovernmental agreement on the construction of the “South Stream” with Bulgaria (18 January 2008), Serbia (25 January 2008), Hungary (28 February 2008), Greece (29 April 2008), Slovenia (14 November 2009) , Croatia (2 March 2010) and Austria (April 24, 2010).

However, the project interferes with the position of the authorities of the European Union. In accordance with the EU Third Energy Package, the owners of the pipelines located in the European Union can not be companies that are engaged in the production of gas. They have to sell their assets or transfer Pipeline Management. Third Energy suggests that a supplier can not use more than 50% of the pipeline capacity, the rest should be auctioned.

In December 2013 the European Commissioner for Energy Guenther Oettinger suggested that countries participating in the project “South Stream” (planned capacity of 63 billion cubic meters. meters per year), to revise the agreement signed with Russia in such a way as to conform to the current Third Energy.

«The European Commission can not accept the fact that some EU member states have signed the agreement with Russia to build a pipeline that violate jointly adopted by European law. I call on the EU to postpone the project until such time as it does not comply with European law. The one who will continue to take action, will have to reckon with the consequences », – Oettinger stressed in the article published in the German newspaper Handelsblatt.

Preparation for construction of the “South Stream” is still underway. April 29, 2014 “Gazprom” and the Austrian company OMV signed a memorandum of understanding to build the Austrian section of the pipeline “South Stream” with a capacity of up to 32 billion cubic meters. m per year and the end point in Baumgarten.