Home » Latest » Croatia Loses Russian South Steam Gas Battle

Croatia Loses Russian South Steam Gas Battle

After months of speculation Russian natural gas giants Gazprom have confirmed that the south stream gas pipeline will not run through Croatia. The companies Vice President Aleksandar Medvedev announced today that the final deal has been done and will see the pipeline pass through Serbia and Hungary.

Construction of the pipeline is set to begin in December on the route: Russia-Bulgaria-Serbia-Hungary. The news has disappointed Croatia’s president Ivo Josipovic.

“That is bad news, that is a result of the fact that for years we have no systematic policy, that we don’t plan for the future, and that we made some false moves with regards to some Russian investors. I hope that this gives us the incentive to change,” said a clearly disgruntled Josipovic.

More than 15 million euros of investment is expected by Gazprom in the project that Croatia has missed out on, reports HRT.

Sign up to receive the Croatia Week Newsletter