Construction of the South Stream gas pipeline intended to carry Russian natural gas under the Black Sea to Europe will start in December 2012, and not 2013 as previously planned, gas export monopoly Gazprom said on Friday.
The Russian company will present a construction plan for the project to the board of directors of the pipeline's operator, South Stream Transport AG, this February.
Implementation of the project was speeded up by order of Prime Minister Vladimir Putin last December. Putin demanded the underwater phase of the project to begin by the end of 2012.
"Gazprom has everything to considerably advance the previously announced start date for South Stream construction. We have an international legal framework, the huge interest of all participants of the project in Europe, the necessary financial resources and unique experience in implementing large-scale sea gas transportation projects," Gazprom quoted CEO Alexei Miller as saying.
The South Stream pipeline is intended to transport up to 63 billion cubic meters of gas to central and southern Europe, diversifying Russian gas routes away from transit countries such as Ukraine.
Russia plans to launch South Stream in 2015. Last December Turkey gave Russia the final permission needed to build the pipeline.
