| South Stream Gas Pipeline Project |
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Location | From Russia to the European Union - RU |
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Investment | 20,000,000,000 USD |
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Announced | 6/23/2007 |
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Completion | 12/15/2015 |
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Scope | South Stream Gas Pipeline is to transport Russian natural gas under the Black Sea to Bulgaria and further to Italy and Austria, supplying 63 billion cubic meters (bcm) of gas annually. |
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| Development Milestones |
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6/23/2007 | Gazprom and ENI signed a Memorandum of Understanding to execute the South Stream. |
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1/18/2008 | The South Stream AG Special Purpose Entity venture was registered by Gazprom and ENI on a parity basis so, they will carry out the project using the most advanced technologies in full respect of the strictest environmental criteria. |
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5/15/2009 | Gazprom and Eni sign 2nd Addendum to MoU on further actions as part of South Stream project. The Addendum contemplates increasing the throughput of the submerged section of the South Stream gas pipeline from 31 to 63 billion cubic meters of gas a year as well as regulates the gas marketing issues within the project. |
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11/27/2009 | Gazprom and EDF signed a Memorandum of understanding on the possibility of EDF participating in the construction of the offshore section of the South Stream pipeline. |
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6/20/2010 | Eni and Gazprom signed a Memorandum of Understanding permitting EDF to enter South Stream AG joint venture; the stake of EDF would be up to 20%. |
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9/15/2010 | The construction has begun on South Stream Pipeline in Serbia. |
