Gazprom vows to complete South Stream project by end-2015.

Alexey Miller, chairman of the management committee of Russia's gas major Gazprom, confirmed that field works on the South Stream project are to start in 2013 and be completed in 2015. The South Stream project envisages the construction of a pipeline for natural gas transit from Russia to Southeast and Central Europe and Italy. Gas supplies under the project will start from the Beregovaya compressor station in Russia and will reach Bulgaria through the Black Sea. The pipeline network on the territory of the country will have two extensions to Serbia and Greece. The total investment is to reach EUR 25bn as compared to initial EUR 10bn. The capacity of the project gas pipeline was raised to 63bn cubic metres per year from 31bn cubic metres. A month ago, Gazprom warned that Bulgaria should adopt organisational and administrative measures to keep its participation in the South Stream project in line with the envisaged schedule.