Natural gas

‘Putin writes off South Stream’

Published on 2 December 2014 at 09:30


Russian president Vladimir Putin has announced he will no longer build the South Stream gas pipeline, due to EU opposition.
Speaking at a press briefing with Turkish president Recep Tayyip Erdoğan in Ankara on 1 December, Putin said that “since we have not received Bulgaria’s permission”, Russia “cannot continue the implementation of the project”, reports Standart.
South Stream would link Russian gas fields to Austria and Italy via the Black Sea, Bulgaria, Serbia and Hungary from 2016. It would bypass Ukraine and increase Europe’s dependence on Russia. The European Commission “threatened to launch legal action on grounds that South Stream violates EU anti-monopoly laws, with Bulgaria halting construction in August”, notes EUobserver.
According to Standart, “Bulgaria is about to lose billions” from Russia’s withdrawal, as Putin —

recalled that the country would receive €400m a year in transit fees. […] The news shocked Bulgaria, which was unable to take a stance between the EU and Russia.

Receive the best of European journalism straight to your inbox every Thursday

Was this article useful? If so we are delighted! It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans. Discover our membership offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic