South Stream Revival and EU-Russian Energy Relations

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With energy market observers focused on the Middle Eastern uprisings and the Japanese catastrophe, the entrance on March 21 of the German company Wintershall into the consortium backing the South Stream pipeline came as a great surprise. Inaugurated in 2007 as a 50-50 joint venture between Russian giant Gazprom and Italy’s ENI, the project aims to transport up to 63 billion cubic meters (bcm) of natural gas per year from the eastern shore of the Black Sea to the consuming markets of Eastern, Central and Southern Europe. According to the memorandum of understanding signed in Moscow, Wintershall will acquire a […]

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