Gazprom and OMV sign South Stream accord bypassing Ukraine

(AGI) Vienna, June 24 - Russia and Austria have signed anagreement to construct the South Stream gas pipeline despite acooling of relations with Moscow due to the Ukraine crisis. Theagreement was signed by the CEOs of Gazprom and the Austrianenergy company OMV in the presence of President Vladimir Putin.South Stream will cost about USD 40 billion and will bringRussian gas to Europe without passing through Ukraine. "Theinvestment represents a guarantee for European energysecurity," said OMV CEO Gerhard Roiss. . .

(AGI) Vienna, June 24 - Russia and Austria have signed anagreement to construct the South Stream gas pipeline despite acooling of relations with Moscow due to the Ukraine crisis. Theagreement was signed by the CEOs of Gazprom and the Austrianenergy company OMV in the presence of President Vladimir Putin.South Stream will cost about USD 40 billion and will bringRussian gas to Europe without passing through Ukraine. "Theinvestment represents a guarantee for European energysecurity," said OMV CEO Gerhard Roiss. . .