Slovenia Joins South Stream Gas Pipeline Project - Bloomberg

"The accord followed talks between Slovenian Prime Minister Borut Pahor and his Russian counterpart Vladimir Putin in Moscow, and was signed by Russian Energy Minister Sergei Shmatko and Slovenian Economy Minister Matej Lahovnik," Bloomberg reported on Saturday.

Slovenia joins Bulgaria, Serbia, Hungary and Greece as a partner in the onshore section of South Stream designed to boost Russian gas supplies to western markets while bypassing Ukraine. The 900-km (560-mile) pipeline due to deliver gas by the end of 2015 is being built in partnership by Russian gas giant Gazprom and Italy’s Eni. It will run under the Black Sea from Russia to the Balkans, where it will split into northern and southern routes.

“We have today signed the final agreement among all European partners needed for completion of this project,” Bloomberg quoted Putin as saying at the signing ceremony in Moscow. The project will enable Russian gas to reach Italy.

Slovenia buys about 600 million cubic meters of the fuel a year from Gazprom, Bloomberg said. The country was among the Balkan states affected by the gas dispute between Russia and Ukraine that disrupted Russian gas supplies to most of Europe in January The Adriatic nation now wants to avoid further disruption by diversifying energy sources.

“This agreement for us will be a very important event,” Bloomberg quoted Pahor as saying.