Dec 11 - Gazprom Picks Italy Over Austria for South Stream Route

Source Press
Company Gazprom PJSCEDFENI S.p.A.Wintershall Dea GmbH 
Tags Oil & Gas Trading, Pipelines/ tankers/ distribution
Date December 14, 2011

(Reuters) Gazprom has picked Italy over Austria as the destination of its South Stream gas pipeline project, a source at the company said after reports the EU had blocked a Gazprom plan to buy part of a trading platform in Austria. One of the options for South Stream's route was to run from Russia under the Black Sea to the Balkans, with a branch passing through Austrian oil and gas company OMV's hub in Baumgarten. "There will be no transit through Austria, only a spur will run to them," the Gazprom source told Reuters on Wednesday. The source added that South Stream will terminate in Italy, rather than in Central Europe. A Gazprom spokesman declined to comment. Gazprom owns 50 percent of the project, while 20 percent belongs to Italy's Eni. France's EDF and Germany's Wintershall have 15 percent each.

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