South Stream
The South Stream pipeline project is intended to transport Russian natural gas across Europe via Bulgaria to Italy. The project to construct the new South Stream pipeline was announced in June 2007 (a strategic agreement to build the pipeline was signed in November 2006 by Eni and Gazprom) and set up South Stream AG, a joint venture company incorporated in Zug (Switzerland) in January 2008 to construct and operate the pipeline and carry out marketing research and a feasibility study of the South Stream project (50/50 joint ownership between Gazprom and Eni).The project has not yet started construction but is a strong rival to the Nabucco pipeline for competitive supplies. In the course of its implementation Gazprom and ENI will apply their experience gained during the Blue Stream pipeline under the Black Sea, as well as up-to-date technologies meeting the most rigorous environmental requirements.