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Gazprom and Serbia press forward with South Stream

24th May 2013

Gazprom, Srbijagas and Serbian energy ministry convene to discuss development of South Stream project which will help bring 1.5 billion cubic meters of natural gas to Serbia

Gazprom and Serbia press forward with South Stream
A long-term contract was signed in March 2013 for Russian gas supplies to Serbia in the amount of up to 1.5 billion cubic meters of gas per annum for a period of 10 years

High profile members of Gazprom, the Serbian energy ministry and Serbian state-owned natural gas transmission, distribution and storage company Srbijagas convened in a meeting this week to discuss the progress of the South Stream pipeline project.

A working meeting took place between Alexey Miller, chairman of the Gazprom Management Committee; Milan Bacevic, minister of natural resources, mining and spatial planning of the Republic of Serbia; and Dusan Bajatovic, director general of Srbijagas.

Special attention was paid to the progress of the South Stream project. The meeting participants highlighted the mutual interest in completing the project as soon as possible and confirmed that the gas pipeline construction in Serbia would start in line with the agreements reached in late 2013.

 

In addition, the parties discussed Russian gas exports to Serbia under a long-term contract. In 2012, Gazprom supplied Serbia with 1.5 billion cubic meters of natural gas. A long-term contract was signed in March 2013 for Russian gas supplies to Serbia in the amount of up to 1.5 billion cubic meters of gas per annum for a period of 10 years. Gas will be conveyed via the existing route and, in the future, via the South Stream gas pipeline.

 

Gazprom is implementing the South Stream gas pipeline project in order to diversify the natural gas export routes to Europe. The pipeline will run under the Black Sea to countries in Southern and Central Europe. Intergovernmental agreements were signed with Bulgaria, Serbia, Hungary, Greece, Slovenia and Croatia in order to implement the onshore gas pipeline section.

In November 2009 South Stream Serbia AG joint project company was registered. Gazprom holds a 51 per cent stake in the company and Srbijagas – a 49 per cent stake. In October 2012 a final investment decision was approved for the South Stream project in Serbia.

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Gazprom and Serbia press forward with South Stream | Oil and Gas Technology

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