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    Stroytransgaz to Construct Macedonian Leg of South Stream

Summary

Russia’s Stroytransgaz, controlled by Gennady Timchenko, said that the company will start building a gas pipeline in Macedonia

by: Sergio

Posted in:

Natural Gas & LNG News, Pipelines, South Stream Pipeline, Turk/Turkish Stream, News By Country, , Macedonia

Stroytransgaz to Construct Macedonian Leg of South Stream

Russian billionaires are on the move to maintain and increase their clout in Europe. 

Over the last hours, Russia’s Stroytransgaz, controlled by Gennady Timchenko, said that the company will start building a gas pipeline in Macedonia, while Mikhail Fridman's LetterOne Group kept fighting to save its €5 billion deal for assets in the North Sea finalised last week with RWE.

According to newsru.com, engineering company Stroytransgaz, which was originally a Gazprom subsidiary, will proceed with the construction of the Macedonian leg of the South Stream

Russian media say that the offshoot would connect the country to the Turkish Stream. The section announced by Stroytransgaz on Thursday, which should take one year, represent around 50% of the total pipeline necessary to connect the country to Greece.

According to Novite, Macedonia will pay 20% of the project, with the rest being financed by Russia.

‘The country will pay USD 15 M, the remainder will be offset against debt owed by the former USSR to the former Yugoslav Federation, of which Macedonia was part’ the online magazine wrote.

Also on Thursday, Fridman’s LetterOne Group wrote to the British government to explain the company’s plan for the recently acquired field in the North Sea. 

‘We have provided DECC with a detailed response and continue to engage with the department. We will leave no stone unturned to find a solution’ reads a note released by the company. 

Last week, the Secretary of State for Energy and Climate Change, Ed Davey, sent a letter to the company led by the Russian billionaire, hypothesising that Fridman could be soon forced to sell the assets.  

Meanwhile, Gazprom’s Alexey Miller met with LUKOIL’s Vagit Alekperov to speak about infrastructures under construction.

‘The construction of a gas branch from the Bovanenkovo – Ukhta gas trunkline system to the Pechora GDS-2 is nearing completion. The first gas delivery and pre-commissioning activities at the gas branch are scheduled for the second quarter of 2015’ reads Gazprom’s website