CNBC reported that Russian Gazprom has taken steps towards fulfilling its plan to lay gas pipeline across Europe by solidifying a deal with Slovenia.

As quoted in the market report:

The South Stream pipeline project, due to start operating in 2015, is set to pump up to 63 billion cubic meters of natural gas annually. The gas would be piped from Russia under the Black Sea to Bulgaria, Serbia, Hungary, Slovenia, Austria and Italy in one leg, and to Croatia and Greece in a second. Russia provides about a third of Europe’s natural gas consumption. Last year, Gazprom exported about 180 billion cubic meters of natural gas.

To view the whole CNBC report, click here.