One billion euros are on the way for South Stream, the gas pipeline that will connect Russia to Southern Europe. The Russian companies Omk and Severstal and the German Europipe have secured contracts for the first underwater section of the pipeline.
Reuters Gregoire Richez, commercial director of South Stream Transport, specified that "the development of the gas pipeline is scheduled for the beginning of the summer and will end in mid-2015".
South Stream is expected to transport 63 billion cubic meters of gas annually through the Black Sea, Bulgaria, Hungary, Serbia, Slovenia and Italy.
Eni, Gazprom, Edf and Wintershall will be the shareholders of the project.
