Gazprom has estimated the cost of "South Stream".

The Russian gas monopoly Gazprom has estimated the cost of building the gas pipeline system "Southern stream" (South Stream) of up to 25 billion euro, informs RIA Novosti. Part of highway, which will take place on the Black Sea, is estimated at 4 billion euros, while laying a pipeline to continue overland to Greece and Austria - in the 15-20 billion.
It is assumed that the pipeline will start at the end of the year 2014-2015. Previously, it was expected that "South Stream" work in 2013.
The pipeline "Southern stream" must unite Russia and the countries of South and Central Europe. It will be held in Bulgaria on the Black Sea. Then a branch pipeline will go via Greece to southern Italy, and the second - through Serbia and Hungary to Austria. The goal is that its throughput capacity of about 47 billion cubic meters of gas a year. For comparison, on the route "Northern stream" (Nord Stream), which will link Russia and Germany on the bottom of the Baltic Sea, will be about 27 billion cubic meters.
At the same time, Gazprom announced that gas production may be reduced in 2009 by 7 percent compared with last year, Interfax reports. In 2008, the company produced more than 550 billion cubic meters, while in 2009 production is estimated to range from 510 to 560 billion cubic meters. In doing so, the supply of gas to Europe could be reduced by 5 per cent - from 179 to 170 billion cubic meters.
Decreased production may be due to the fall in oil prices, which cause and cheaper gas. Because of the fall in oil prices to 3.5 times on its maximum, it is expected that average gas prices for Europe will drop from the current 400 dollars to 280 dollars per thousand cubic meters.