Austria's OMV and Russia's Gazprom are discussing the possibility of reviving South Stream gas pipeline project, according to Der Standard.
As a reference, in December 2014, due to the EU’s stance, Russia announced the termination of work on the South Stream project, upon which the pipeline was designed to run through the territory of Bulgaria, Serbia and Hungary. Instead, Russia has launched a new gas pipeline under the Black Sea to Turkey (the Turkish Stream).
“OMV and Austria as a gas hub could become the main beneficiaries of the plans for South Stream renewal,” Der Standard writes, explaining that it is beneficial to the country, since, in case of South Stream construction, the transit of Russian gas to Europe will go through the Austrian gas hub Baumgarten.
According to the newspaper, Austria intends to join the game before the second phase of Turkish Stream starts.
