Austria and Russia sign South Stream agreement

(AGI) - Vienna, June 24 - - Russia and Austria have signed anagreement for the construction of the South Stream pipeline inspite of the European Union putting the project on standby dueto tension between Moscow and Kiev. The agreement was signed byGazprom's CEO and the CEO of the Austrian energy group OMV, inthe presence of Russian President Vladimir Putin. The SouthStream pipeline is expected to cost about USD 40 billion andwill carry Russian gas to Europe without passing throughUkraine. "This investment is a guarantee for European energysecurity," said OMV's CEO Gerhard

(AGI) - Vienna, June 24 - - Russia and Austria have signed anagreement for the construction of the South Stream pipeline inspite of the European Union putting the project on standby dueto tension between Moscow and Kiev. The agreement was signed byGazprom's CEO and the CEO of the Austrian energy group OMV, inthe presence of Russian President Vladimir Putin. The SouthStream pipeline is expected to cost about USD 40 billion andwill carry Russian gas to Europe without passing throughUkraine. "This investment is a guarantee for European energysecurity," said OMV's CEO Gerhard Roiss. . .