June 2010 Vol. 237 No. 6


Austria Agrees To Join South Stream Project

Austria wants to join the South Stream project, a key step toward construction on a pipeline to increase the flow of Russian gas to Europe. Supplies of Russian gas to Austria would increase by 2 Bcm/y after South Stream’s launch. The deal allows South Stream to cross Austrian territory. Austria, which gets 60% of its gas from Russia, became the seventh country to sign on to the 900-km pipeline, following Croatia, Bulgaria, Serbia, Hungary, Greece and Slovenia. The rival Nabucco project, a 7.9 billion euro ($10.6 billion) pipeline aims to supply Caspian gas to Europe. But Nabucco, spearheaded by Germany’s RWE, Hungary’s MOL, Romania’s Transgaz, Bulgaria&#

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