The European Commission is currently reviewing whether the South Stream gas pipeline project of Serbia and Russia is in compliance with competition law, but that hasn’t stopped its contraction from starting.
Russia announced Tuesday that the pipeline building has begun. It’s a controversial project as it stands as a symbol of tensions between Russia and the EU.
Russian gas giant Gazprom owns 51 percent of Serbia’s leading oil company NIS. With Serbia preparing to start construction on the Russian section of the pipeline in mere weeks, the nation is now caught between its political relationship with the EU and its economic relationship with Russia.
Earlier this month, Bulgaria suspended work on the pipeline after encouragement to do so from EU regulators. The Commission reportedly believes the South Stream is anticompetitive because it bars other gas companies from using it.
The Commission’s ruling on the pipeline’s legality is pending as tensions with Russia mount even higher in the wake of heightened conflict in Ukraine.
Still, construction for the Russian part of the South Stream will begin next month, and the section in Serbia will reportedly start being built in July. Several EU member states have also expressed support for the project, reports say, as proponents say the project will expand EU’s gas supply.
Full content: The Star
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI