well the british sign it's sometimes. hard to. market long enough to. find out what's really happening to the global economy is a report on our. welcome back you're with our team here's a look at the top stories greece's new finance minister takes office with a hard task of convincing people to accept further steady cuts as the second wave of bailouts cast a shadow over the future of the eurozone nations like turkey earlier desperate to join up are now having everything. president to be out of criticizes the state's role in the russian economy and slams corruption for threatening the country's development speaking the international atomic forum in st petersburg state of his

commitment to modernization and pledge breasting measures to create a better investment climate. the e.u. plans a third set of tougher sanctions against syria as the crackdown on protesters continues report of the claiming at least sixteen lives on friday tom experts warn the sanctions could be paving the way for a levy a style intervention. for next hour interviews show spotlight talks to the project leader of the south stream gas pipeline marcel kramer about what the new route could mean for supply. hello again and welcome to spotlight the interview cheryl and hearty and i'll do another in today my guest is marcel cram and russia is investing hard into the south stream pipeline

a direct and expanding gas shipping route to you but as the project is gaining momentum there's criticism in some quarters that south stream is uncomfortable and has no future who want to do the project leaders have to say to that here's the c.e.o. of the south stream marcellus crammer joining us from st petersburg economic forum . after the gas well between russia and ukraine left europe breezing moscow decided to develop an independent group to secure its gas supplies south stream i believe along the bottom of the black sea and then on into europe but critics say this pipeline will make western europe even more dependent on moscow today every fourth household on the continent of russian gas. mains our streaming past a guest room he's working hard to improve the emotional the political. as

a crime or welcome to the show thank you very much for being with us. both first of all first of all i'd like to ask you about your presentation in brussels on the twenty fifth of may did this presentation somehow change the attitude in the e.u. towards the south stream or do they still have questions about the crunch. well i think it was a very stressful events. there was a very good price and smote only of the many partners in the sauce. projects but also of e.u. officials and service from various institutions. we consider this session success also because the european commissioner confirmed the importance of energy relations and of the southeast project as such. to those relations and use

the words this is clearly a priority also for the e.u. and we will find good ways to work with it and to support it so i think all in all . we are now at a point where we have a good basis to go further and perhaps more detail discussed. do you believe that you will succeed in getting a priority status for south stream in the e.u. there exempting it from the european union rules requiring it to share its infrastructure with third parties. well there is an ongoing discussion between the european commission and the russian government about an overall agreement with regard to how gas infrastructure could be treated and i think we should wait and see how that agreement works out and what exactly that means for the status of the project at the same time it is clear that the

participants and the project and they represent about one third of all e.u. member states. feel very strongly along with russia that this project the stores clear of priority status so we're working on that or discussing it domestic about. russia's energy minister mr schwartz expects to sign an agreement with the e.u. this autumn what kind of agreement could be there is russia want to have this. same preferences as no google for example or are you ready for a compromise. well i think we see this quite separately from whatever partners may have arranged among themselves or with the e.u. or with the e.u. member conference what we really want to make sure of is that whilst we of course respect the the legal framework within the european union when we work what we want

to make sure of is that whatever specific measures are taken do not in any way undermine the economic viability of the project for the entire duration of the operations of the approach we want to have a clear stable and supported legal and regulatory framework so that's what we're working well many experts by the way say that from the economic point of view the modernization of ukraine's gas five licensed him would be a cheaper solution than constructing a new underwater pipeline is it true or does moscow believe that ukraine has lost its credibility as a reliable point. but i think in general the transit networks need modernization and a good example of that is also the north sea project which is now for its first

stage nearing completion to great success which will also ensure stable long term supply so one modern system and on the modern management all i can say about the ukraine situation is that it is clear that all the partners in the south stream project have collectively. agreed that and this is just obvious from the actions they are taking now that it would not be wise to and tire leaders rely on the ukraine for fuel. your transit for the kind of volumes that have been flowing still there so far so. what that then sums up to is really the ukraine will likely continue to play a role in transit to europe but we will also have a modern today and well managed transit system in

the form of south stream. which implies that there is going to be additional security of supply or for your call of the south stream promises to two to come up to sixty three billion cubic meters of gas three years do you already know the source is going to get the gas to fill the pipe. well i think. the the market in the end to the side the exact volumes work is being now done is being done out of concludes those contracts the capacity of south stream india and that means in twenty nineteen will be sixty three b.c. and you are right about that but we see it gradually increasing from a much much lower level at the end of twenty fifteen to that sixty or sixty three b.c. and capacity about forty four years later in the end the market will be the judge

though because the contracts have to be signed. and we will see partly new gas and we will start partly rerouted gas flows that are now today still going through ukraine it will be a mix while you're talking about this real route and gas well the gas that's now going through from through ukraine is. a lot of it going to be diverted into sites is south stream a significant part yet where or how much. well you know she picked. it's always open to interpretation what that means but we have a basic supply scenario for so stream which says that up to two thirds of the volume going through south stream could be volume that is now going through the ukraine system. many analysts say that they expect

gas from to revise south rings price tag for this year as the prices for commodities like seal and cement also climb is this the reason why the publication of technical and economic assessment of the project was delayed until the the end of the year if i'm not mistaken. no i don't think there's any correlation indecorous back to the project is on schedule we are working hard on many different aspects including the final. conclusion of the preferred routing of the entire buy price system we expect that to be ready sometime in the third quarter. is cheaper than south stream does it mean more competitive in south stream. but first of all i haven't heard any firm and final numbers for i don't know google or south street or south stream or using

a preliminary estimate which says it is likely to be on the order of magnitude of ten billion euros for the shore park and of like c. and approximately another five forty on shore parked through the transit countries on the way to italy and austria. that's a very preliminary estimate the final budget will be available when we take the final investment decision and i think we'll have to wait and see therefore we read you also. do not have a good comparison with any other projects on our book away it is clear that a number of the participants and they have set sold but likely expect much higher of course than originally estimated. and we will have to wait and see whatever they come up with when they take a final investment decision before doubt it is really until that point it's really

not so easy to talk about who is cheaper and more expensive the key is. if you have sufficient gas rolled through the pipeline that of course significantly improves the economics and that seems to be an issue for some of the other five like projects. such as the local but are more had to do the bidding you feel the competition from the book anyway. but i don't i don't see decent turns of competing projects they are very different than nature in a book will very heavily of course depends on the ability to get adequate gas supply of large volumes of gas supply into the market through the pipeline system in this house steam case the gas is available we're really talking about new infrastructure for security and supply and not about the need to find large

additional suppliers large additional volumes of natural gas so in that sense really not by competing also time wise. what i've read at least but we're not following a day today is that the navajo partners expect to be quite a bit later than the planning we have for sell stories says marcel crammer the c.e.o. of south stream who is joining us from st petersburg from the economic farm spotlight will be back shortly right after a break so don't go stay where you are. just

six. seventy six hours of intense fighting. six thousand and ten years of age from battlefields several kilometers long. and now there is only one person who cares. to see it we are surrounded by garbage everywhere but also there are. on this beach which of course is a very most appropriate signification

a symbol of everything that's wrong with our goddamn government allowing not all my garbage but to accumulate where so many guys died. a new battle is going on. will the history be protected. return to terra what julian cooper story on our cheat.

welcome back to spotlight i'm just a reminder that my guest on the show today. primaries this year of the south stream joining us from st peter's been from the economic forum mr krammer we started talking about about south stream bad about competitiveness of these two projects but as far as i understand natural gas which you find which you pump through the pipes also as also asked competition like the new sources of gas for example the shale gas and the liquefied natural gas they're putting downward pressure on natural gas prices is this really the trend is a true. well you know i think we have to look at the l. and g. and chilled gas in quite a different way. the shale gas first of all we know the story about the u.s.

very large and rather unexpected volumes of shale gas have gone through the market there. we are now as an industry looking very hard at what could be the possibilities elsewhere in the world and what i'm hearing about europe in that respect is that yes there are in geological terms certain possibilities it is not quite clear how complicated some of the production will be in europe it would be quite different from the us and there are a number of environmental issues around shale gas. which may also delaying some of its development particularly in europe which is more densely populated in most places. and we therefore have to wait and see about the general view is that we would not. backed significant volumes of chill gas to come to the markets in europe until at least twenty twenty five or beyond. there may be some

production in some parts of europe the florida but that would not really impact this ousting project at all and alan g. well let's wait and see it is true that we have more elenchi receiving cardinals now in europe than we had let's say five or ten years ago that's good news and gives the market more options more flexibility. but we also have to wait and see how much of that liquefied natural gas is actually coming to europe and much of that will be found on pricing so we'll have to wait and see i think a large modern pipeline system such as self-esteem is definitely proven to be very competitive that's always been the case in the history of the cash industry and it will be the case with sauce. but are you russian partners are russians ready to to meet this new possibilities the new challenge challenges of which we're talking

because who are or are they are still pretty conservative then and still prefer to make their money the old way i mean by pumping gas into europe who cracked ones. well i'm not here to talk for all the companies that are in this business so i'm really focusing on the pipeline project the search but let me say this if you have large natural resources conventional resources of natural gas that can be produced if you also have possibilities for further optimization within your current system then much of that is likely to be economically more attractive and venturing into all kinds of new technologies that being said i am sure. russian companies including gas will follow the developments very closely they already do that and are seriously involved in

a trade and in energy production they will also follow very closely what happens to shale gas but it is definitely not seen as something that they will large scale jump only in the immediate future because you have so much conventional gas and be competitively produced a market that still available. to cram or you have claimed many times that the south is a project of european interest that what you say but this argument against sits in the. who's interested in derailing this project. is again except ukraine. but i will say that you know it it is obviously a project in european interest europe needs an important market as europe wants to do that in a secure and stable manner and safe and secure new transit routes are obviously

one way to do that on top of that you have many european companies and countries such as the southeast the east european countries directly involved and wanting to see the project realized so i don't really doubt that this is a project of major european influence it brings good natural gas supply secure supplies for the long term the ability to plan for a for a cleaner environment for renewables and so on and so forth so we are feeling quite strongly about that and it's not only us in the project itself but also other companies involved now of course there will be. always people around your. differently that's fine i'm sure we can companies. i guess. that turkey is giving you a headache lately kenyan whiteness how long according to your assessment will it take

to reach an agreement with the church on laying the and they were part of the pipeline in their territorial waters. well i know there's an ongoing discussion. about certain details of the arrangements between between moscow and ankara we in the project of such are not directly involved in that so i can't really comment on it clearly also here the importance of the overall relationship will dominate the discussion and will lead to a good resolution. but is there still a risk and i have read about it in some and some analysis in the paper is that the turkish position the tough position may even change the route how the south south stream pipeline may this be true. well we are looking at the overall route

at the moment and the terminating. routing over the next few months and when that decision is being made sure all the aspects such as the position of transit countries and others and fulfill be taken into account. they see where you laying the purport of line is called the black sea and some some people say that that the south stream is a project there that may really turn the sea into black sea literally it's not black yet thank god i mean are they really huge environmental risks for the black sea i mean the little lane they the and the water pipeline. is this true. well i have to say you know all the questions about the environment impact in general of the project or in specific locations

have to be taken very very seriously. if you look at offshore pipeline projects for natural gas such as north st but also many many of those in the north sea for example the norwegian sector the british sector etc and elsewhere in the world you can really say transporting natural gas in a by plane on the seabed is not in itself at all survivors exercise now that being said for the specific route you have to of course of any negative impact on the seabed and on the environment where you can but transporting gas. through. an area such as the black sea in itself is a perfectly safe activity. when will the final agreements when will they be signed with. the false and also the winter shall the french and the german

companies about the condition of their participation in your project. well they're working hard to get or to. resole for. some outstanding issues this is a large and complex project so naturally as has been the case in other projects this takes some time but i am told for then that none of them wants to take it any longer than necessary so we're looking forward to the conclusion but it's not in my hands it's entirely and there's. another question about deals i know gas prom is negotiating with eon its participation in the south stream project how high is the probability that iran will join. south remained what made the conditions but. i'm not aware of or or involved in any of those negotiations so we are

focusing on the preparations of called the project the search and we will see when we end our shareholders term for what for what percentage is so i can't really comment on that bus i think that's best dressed to gospel thank you thank you very much for being with us and just to remind that that my guest on the show today was marcel travers the c.e.o. of south street and that's it for now from all of us here if you want to hide your sense spotlight or have someone in mind here think i spent the next time just dropping a line calvin enough at the t.v. dots are here and let's keep the show interaction and we'll be back with more for a special comment on what's going on in and outside russia and so then stay on our sea and take care.

more than a month. in one of the most extreme environments on the planet this is antarctica and people have to be aware that they are far away from civilization sean combs discovers what makes on tarted is so special and attractive from the wildlife in antarctica. and from the. expedition to the bottom of the earth are to. download the official and see how to make a show on the phone called touch from the i choose option. one cianci flight. video on demand on g.'s minefield comes an r.s.s. feeds now in the palm of your.