November 22 (SeeNews) - Russia's president Vladimir Putin has confirmed plans to commence the construction of the sea leg of the South Stream gas pipeline in Turkey's economic zone in 2014, Russian media said on Friday.
Russia and Turkey have reached a strategic level of cooperation in the energy sector, Putin said at a meeting of the Russian-Turkish High-Level Cooperation Council in St. Petersburg, Russia's state-owned radio Voice of Russia reported on its website.
The South Stream offshore pipeline aims to diversify gas routes within the European Union providing gas supplies from Russia to Central and Southern Europe through the Black Sea. Netherlands-based South Stream Transport B.V., 50%-owned by Russia's Gazprom, 20%-owned by Italy's ENI, 15%-owned by each France's EDF Group and Germany's Wintershall Holding, is engaged with the planning, construction and subsequent operation of the pipeline.