The paper studies the electromagnetic interference between an existing high voltage power line and a new designed stream gas pipeline intended to be placed in the same distribution corridor. A companion paper has investigated soil resistivity along the common right-of-way. Based on the obtained horizontally and vertically layered equivalent soil models, in this paper, a detailed analysis of the induced AC interferences in the underground pipeline is done, for different normal and fault operating conditions. Two different software packages were used to evaluate the induced voltage and current levels: CDEGS and InterfStud (developed by the authors). Obtained result has been compared to each other and to European Standard Regulations.