Russia scrapped South Stream for good -- minister

MOSCOW/PARIS, Dec 4 (PRIME) -- Russia will not return to the South Stream project, Energy Minister Alexei Novak he told reporters on Thursday.

“From my point of view, the solution of the problem was final and today we are engaged in working out the construction of a pipeline in another direction,” and it will be a Russian–Turkish pipeline, he said.

Russia’s decision to scrap the South Stream project will not undermine energy safety of the E.U., Gerard Mestrallet, CEO of GDF Suez, France’s largest oil company, said.

“South Stream’s halt is not a tragedy for the safety of energy supplies to the E.U. It was an extremely costly investment which was not vitally important,” he said.

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