According to Mr Vladimir Putin Prime Minister of Russia Turkey has given Russia a final permit to build the South Stream gas pipeline intended to carry Russian natural gas under the Black Sea to Europe.

Mr Putin said at a meeting with Turkish Energy and Natural Resources Minister Mr Taner Yildiz that "I want to address the Turkish government with the words of special gratitude due to its decision to grant final permission to Gazprom to build the South Stream gas pipeline along the bed of the Black Sea in its exclusive economic zone."


He said that the accord will contribute to stable energy supplies to the European market. He added that Russia also agreed with Turkey on extending two long-term contracts on gas supplies until 2021 and 2025.

Mr Putin said "As it normally happens in such cases, a final agreement is the result of a compromise acceptable for both parties."

Mr Miller said The South Stream pipeline is intended to transport up to 63 billion cubic meters of gas to central and southern Europe diversifying Russian gas routes away from transit countries such as Ukraine. Commercial gas deliveries via South Stream will start at the end of 2015.

The neighboring ex-Soviet republic accounts for 80% of Russian gas transit to EU nations but frequent rows with Moscow over gas prices have sometimes ended with Kiev switching the gas tap off in wintertime.

(Sourced from RIA Novosti)