Russia’s Gazprom Plans to Extend Pipeline to Austria

Bloomberg reported today that Russia’s OAO Gazprom has plans to build a natural gas pipeline to Austria in the face of increased sanctions against Russian officials. The expansion of the South Stream pipeline would run from the coast of Bulgaria through Serbia and Hungary before reaching Austria, according to Bloomberg.

As quoted in the publication:

As much as 32 billion cubic meters of gas a year will be delivered to Baumgarten, Austria, through a section of the South Stream pipeline, Vienna-based OMV said in a statement yesterday. The first gas deliveries are planned for 2017, under the memorandum of understanding the OMV Chief Executive Officer Gerhard Roiss and Gazprom CEO Alexey Miller signed in Moscow.

Click here to read the full Bloomberg article.