BRUSSELS - The EU does not see the South Stream gas pipeline as a new source of gas, Vice President of the European Commission for Energy Gunther Oettinger said at a press conference in Brussels on Oct. 16.
“South Stream is a new gas pipeline, bigger than others. But this will not be a new gas. South Stream will still supply the gas of Gazprom. In place of Ukraine, it will run along the Black Sea in order to reach the European Union. This isn’t bad, but it’s not a miracle,” he said.
Oettinger also told journalists about the European Commission’s work on stress tests conducted by the EC on how the EU would cope with an interruption of gas supplies from Russia. He said South Stream would not resolve the EU’s pressing energy problems.
Oettinger said the supporting opinion on the South Stream project was the idea that gas transit must avoid the territory of Ukraine since it will become a bankrupt, unmanageable government. The EU, however, does not take a position against Ukraine, which is creating an association with the EU and shares the EU policy, he said.
“Of course transit [through Ukraine] could be questioned, but this hasn’t happened yet. South Stream is acceptable, but it is currently not a European priority,” Oettinger said.
He also noted that investors in all EU countries through which South Stream is expected to run must agree to the conditions of the European market, which is extremely important for the EC.
