Middle East Economic Survey

VOL. LIII

No 18

03-May-2010

CASPIAN

Russia Builds Momentum For South Stream Gas Pipeline

Momentum is building for Russias proposed South Stream gas pipeline as a result of Austria joining the project as a transit country and Electricité de France (EDF) winning approval to buy shares in the project, now estimated to cost 20-25bn. Meeting in Milan, Italy, on 26 April, Russian Prime Minister Vladimir Putin and Italian Prime Minister Silvio Berlusconi agreed on the proposed...