Gazprom: South Stream Financing Delayed Due to "Cautious" Bank

Financing of the South Stream gas pipeline project has been slightly delayed because foreign banks are cautious over the impact of sanctions, an official at Russian natural gas producer Gazprom said on Wednesday.

Russian news agency Interfax said last week that fundraising to begin building the underwater stretch of the pipeline from Russia across the Black Sea had been postponed until the first quarter of 2015.

(Reporting by Vladimir Soldatkin, editing by Jason Bush)