Romania wants to be Gazpromaa‚¬a„¢s partner in South Stream project

Russian natural gas producer Gazprom and Romanian authorities have inked a memorandum of intent on the possibility that the South Stream pipeline may transit Romania, said Alexey Miller Gazprom chairman.

Gazprom has already completed feasibility studies for all the countries included in the project and is now drawing the technical-economic study for the entire South Stream project, Miller added for Mediafax news agency.

The South Stream pipeline will have 900 km and is likely to transport some 63 billion cubic meters of natural gas on an annual basis. The project is seen as rival to the planned Nabucco pipeline, in which Romania already committed to participate.

Nabucco is estimated that will deliver about 31 billion cubic meters of gas annually from the Caspian Sea to Central Europe via Romania, bypassing Russia. Both projects are estimated to be operational in 2015.

During the Bucharest meeting, Miller stated that Gazprom will send a team of experts to Romania to analyze the opportunity of a joint venture with local gas producer Romgaz.

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Romgaz is Romania’s largest natural gas producer and distributor. The company sold 35.7 million MW/h of natural gas in the first half of 2010, up 19 percent on the year. Economy Ministry controls 85 percent in Romgaz.

D.V.