22:05 GMT12 August 2020
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    Cancellation of Russia's South Stream gas pipeline hailed in European Parliament resolution.

    BRUSSELS, January 15 (Sputnik) The European Parliament in a Thursday resolution hailed the cancellation of Russia's South Stream gas pipeline.

    "European Parliament stressed that priority must be given to pipeline projects which diversify the energy supply to the EU, and hence welcomes the stopping of the South Stream project," the resolution said.

    Last month, Russian President Vladimir Putin announced the cancellation of the South Stream pipeline. The route of the canceled pipeline, transporting Russian natural gas across the Black Sea, was intended to serve as a means to avoid passing through Ukraine.

    The project was stalled after the European Commission expressed concern that Russia's bilateral agreements with the transit countries were in violation of the EU Third Energy Package. The package stipulates that it is a conflict of interest to own the pipeline and to produce the gas flowing through it.

    The construction of the pipeline was announced by Russian oil and gas giant Gazprom in 2012 and was expected to be completed 2018.


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