TMK will supply 5,000 tons of pipes for South Stream pipeline in November
TMK will supply 5,000 tons of large diameter pipes for the South Stream pipeline in November, the Vice CEO of TMK Trade House, A. Parkhomchuk claims. The company is able to supply its product to Russia and to the EU as well. The final decision will be made in the middle of the summer. In their opinion, the company is quite competitive and successful in the project.
TMK is going to supply pipes for the pipeline in December as well, but does not report on precise volume of supplies. In 2013 the company is also going to supply large pipes for South Stream.
The construction on the project will start on December 7. The shareholders of South Stream Transport AG are Gazprom with 50%, Eni with 20%, Wintershall and EdF with 15% each. Under Gazprom estimation the price of the project is Euro 16 billion, including 10 billion to the offshore part. In the total they are going to lay 4 branches with capacity of 15.75 billion cubic m of gas each. Commerce supplies to Europe will start in Q1 2016, and the project will reach full capacity of 63 billion cubic m a year in 2018.
Translated by Nadezhda Poltoratskaya
