South Stream gas project a big casualty of EU-Russia Ukraine standoff.

FT: “In November 2005, a pipeline called Blue Stream was inaugurated to bring Russian gas across the Black Sea to Turkey. It was, said President Vladimir Putin, who attended the ribbon-cutting ceremony, “just the start”.”
“Mr Putin envisaged another Black Sea pipeline from Russia: a longer and more ambitious one, making landfall in Bulgaria and providing a handy southern conduit for Russian gas to the Balkans and eastern Europe – bypassing troublesome Ukraine. South Stream was born.
With Kremlin backing, this €15bn project always looked like a dead cert. But its future is looking increasingly murky. South Stream has become one of the biggest casualties of the east-west stand-off over Ukraine. There is now potential for huge delays. Sceptics wonder whether it will happen at all.
In many ways, the project has become a symbol of the hardening of attitudes between Moscow and Brussels since the start of the Ukraine crisis. A cautious but heartfelt rapprochement has been replaced by tit-for-tat sanctions, asset freezes and visa bans. Russian-European co-operation on energy is now a pipe dream.”