Gazprom preparing for South Stream

Russian energy company Gazprom said it completed project documents for a gas transit system meant to feed, among other systems, the South Stream pipeline. Gazprom announced that timely development of project documents related to Phase 1 of its Southern Corridor gas transmission system is a \"crucial milestone\" aimed at coordinating with South Stream development. \"According to the schedule, Phase 1 of the Southern Corridor GTS will start as early as in December 2012 to be accomplished in 2015 in parallel with the launch of the South Stream first stage,\" the Russian energy company said in a statement. Phase 1 of the gas transit system calls for the construction of more than 500 miles of pipeline. South Stream is a planned natural gas pipeline meant to diversity to Russian gas export options. The pipeline is designed to carry as much as 2.2 trillion cubic feet of natural gas to Europe each year. Gazprom\'s Southern Corridor isn\'t to be confused with Europe\'s Southern Corridor of natural gas project that it expects will break Russia\'s grip on the regional energy sector.