Russian Spokesman Praises South Stream Gas Pipeline Project

The South Stream gas pipeline project does not harm anybody's interests in Europe, nor is it an alternative to Nabucco, Russian Foreign Ministry spokesman Andrey Nesterenko said Thursday.

"We are not opponents of the Nabucco project, but at the same time one has to state that some major issues, such as the reserve base and the investment component remain unresolved," the diplomat said. "This leaves no room for discussing its economic expediency."

Russia "attaches great priority to the implementation of the South Stream project as a crucial measure to diversity gas transportation routes to Europe and to strengthen energy cooperation with the European states."

"The project is an economically feasible one and an attractive from the standpoint of its profitability," Nesterenko said. "Russia is very glad that the arrangements agreed on in the earlier concluded documents are acquiring a practical dimension."

He said the list of countries and companies participating in the project was a sure sign South Stream was becoming a truly European undertaking.

"It is not accidental that several EU member-states urged Brussels of late to put South Stream next to Nord Stream on the list of the EU priority energy projects meeting European interests," Nesterenko said.

BBC Monitoring. Copyright BBC.