South Stream cancelled – Global Gas Analytics view
Construction of the Serbian section of South Stream. The project has now been abandoned in favour of a pipeline through Turkey. (Gazprom)
South Stream is dead, but Russia could yet carry out the project’s aims of increasing the gas supply to southeast Europe, through another planned pipeline that will use Turkey as a conduit.
South Stream was the victim of EU intransigence, according to Russian President Vladimir Putin. However, Russia is now proposing a 63 billion cubic metre per year pipeline to Turkey, which will include the development of a gas hub at the border with Greece. The proposed volumes will exceed Turkey’s requirements; so much of the gas will transit the country and make its way into Europe.