Russia Announces the End of the South Stream Project

Lesson Brief BBC Russian Service
What once was thought to be the project that would cut Russia's dependence on gas transit countries has failed to come to fruition. On December 1, BBC Russian Service reported that Russian President Vladimir Putin and Turkish President Recep Erdogan announced that Russia was canceling the South Stream project and instead, building a pipeline to Turkey. Earlier in the year Bulgaria decided that it would suspend its participation in the pipeline project due to Russia's actions in Ukraine. It remains to be seen whether a pipeline to Turkey will be financially viable and if the gas delivered can be sent on to Southern Europe.
RT

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