ECONOMY

South Stream construction set to start at end of 2010

Energy giant Gazprom plans to begin construction of the South Stream gas pipeline at the end of 2010, while its operation is expected in 2015, said Sergei Komlev, the head of the Russian firm’s Contract Structuring and Price Formation Directorate. Speaking at a press conference yesterday, Komlev noted that the section of the pipeline that will traverse Greece will provide the additional quantities of gas that the Greek market will require in the coming years for electricity production, industrial and domestic consumption. He added that he does not expect anything to change in relations with Greece following the election of the new government. The agreement between Gazprom and the Hellenic Gas Transmission System Operator (DESFA) for the establishment of the South Stream consortium in Greece will be signed by the end of the year.