Romania Failed To Counteract South Stream Pipeline Constr On Pol Grounds-Patriciu

The pipeline will be built by Russia’s Gazprom and Italy’s Eni and is considered a competitor for the European project Nabucco, a natural gas pipeline linking Turkey to Central Europe via Romania.

The 3,300 kilometer-long Nabucco pipeline aims at supplying natural gas from the Caspian Sea to Central Europe via Turkey and Romania, avoiding Russia.

Patriciu considers that Nabucco pipeline has less and less chances to be completed.

Russia has recently signed an accord with Bulgaria on its participation in the project, as well as with Serbia, for the gas pipeline transit.

Patriciu said Romania is located in a good position for the transfer of gas from east to west.

Netherlands-based Rompetrol Group NV, company founded by Patriciu, mainly operating in Romania, develops a gas terminal in eastern Romania that will become operational this year. Rompetrol group is 75% owned by Kazakhstan’s state energy company KazMunayGaz.