Yuri Shafranik: Europe to gain with any route of South Stream

The European Union pushes Russia to change the route of the South Stream gas pipeline. Chairman of the Union of Oil and Gas Producers Yuri Shafranik told about possible losers.

"Huge amounts have been already invested in the construction of the Nord Stream and South Stream gas pipelines. It was a political decision. Well, I oppose management of the economy by policy, but there are moments when the vision of the situation by the first persons of the state plays a crucial role. The political decision on Nord Stream has proved to be right. Likewise, it may be right on South Stream.

The South Stream gas pipeline project hasn't be estimated from an economic standpoint, and there is no international analogues for the comparison of the costs. This is an example of a huge financial risk. I must admit that Western countries themselves would never construct such pipeline . We have an example of Nabucco – an unrealized main gas pipeline with length of 3 300 km from Turkmenistan and Azerbaijan to the EU countries.

As for the EU sanctions, this is a serious pressure for Russia. But in fact, the construction of the South Stream pipeline is profitable for Europe. The President has said that we will construct it: if not with these partners, then with other. Now change the pipeline route doesn't matter. It can be constructed even through Turkey.