South Stream does not qualify for priority EU funding

South Stream does not qualify for priority EU funding:

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Günther Oettinger (Wikipedia)

The EU Energy Commissioner has stated that the South Stream Pipeline project, which plans to move Russian gas to European markets through Southerm and Central Eastern European nations, does not qualify for EU priority funding.

In remarks at the conclsuion of recent meetings of EU energy ministers in Vilnius, Günther Oettinger said that South Stream did not meet the criteria for receiving the designation of a "Project of Comon Interest," which would allow for accelerated planning approvals, as well as potential funding from the EU.

"South Stream is an addition, but it does not give us access to any new sources of energy and it does not increase the competitiveness of the energy market in European Union," commented Oettinger."

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