A $20 billion pipeline project
has been started aimed at creating reliable gas supply for the main consumers in southern Europe. The Pipeline will connect Russia's Black Sea with the Balkans, Austria and Italy, and will carry more than 60 billion cubic meters of gas annually. Europe receives about 40 percent of its gas from Russia, and this pipeline will create a secure method to deliver it to the European nations. The pipeline
will go under the Black Sea to reach Bulgaria, Serbia, Hungary, Slovenia, Austria and Italy and is expected to start operations in 2015.