South Stream Construction Halted

When the South Stream gas pipeline is finished Russia will through that pipeline be able to supply Europe with 15% of its natural gas needs. The line starts in Russia, will flow under the Black Sea and hit land in Northern Bulgaria, where it will then travel to Serbia, Through Hungary and Slovenia and thence into Italy. Gazprom hopes to own the pipeline and have paid for the construction thus far, but the European Union is uncomfortable with Gazprom owning 100% and seek to restrict its ownership to 50%.  Continue reading