Construction of "Južni tok" to cost 12.8 billion EUR

Construction of gas pipeline "Južni tok" will, according to the estimate of Russian Ministry of Energy, cost 12.8 billion EUR, which is 2.8 billion EUR more than Russian gas company "Gazprom" announced.

- "Južni tok" is a huge and very interesting project whose construction will cost about 20 billion USD or 12.8 billion EUR - said the Minister of Energy of Russia, Sergej Šmatko, at the meeting with ITalian Minister of Economic Development Klaudio Skajola.

Šmatko pointed out that the information was not final and that it was the preliminary estimate of the experts.

- We are working on the realization of that project and we are sure that it will contribute to the energy sufficiency - Russian Minister added.

People in "Gazprom", the leader in the consortium for construction of "Južni tok", have recently stated, during the presentation of that Russian-Italian project, that it was estimated that the gas pipeline would require 10 billion EUR worth of investments.