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Gazeta Wyborcza - Poland | Wednesday, December 3, 2014

Costly pipeline was politically motivated

The unfavourable economic situation has forced Russia to give up this pipeline project which was politically motivated anyway, the liberal daily Gazeta Wyborcza believes: "A week ago a representative of Gazprom gave public assurances that the construction of South Stream would begin on December 15. Only a few days later Opec decided not to cut its output, which caused oil prices to drop further. ... And the rouble has also slid to a new low, increasing the threat of a recession in Russia. Under these circumstances it would simply be unprofitable to continue with a project that would cost an astronomic 36 billion euros. This just goes to show that South Stream was really a political project. ... Among other things it was supposed to make gas imports from the rivals in the Caspian Sea and the Middle East more difficult."

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