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South Stream to build Serbian pipeline section ahead of schedule

17th April 2013

Serbian section of 900km South Stream pipeline to start in late 2013

South Stream to build Serbian pipeline section ahead of schedule
Belgrade, Serbia

Russia may see the Serbian section of its 900km-long South Stream gas pipeline implemented ahead of schedule, Gazprom said in a press release last week, following a meeting between top representatives from the Russian giant and the Serbian government.

The meeting took place on 11 April at Gazprom’s headquarters between chairman of the country’s management committee Alexey Miller and Serbia’s Milan Bacevic, minister of natural resources, mining and spatial planning. Miller and Bacevic discussed the project’s execution, the financial aspects of the gas pipeline construction in Serbia as well as bilateral cooperation in the energy sector.

 

Construction of South Stream’s Serbian section may start in late 2013 instead of 2014 as initially planned, which indicates that both countries have a “mutual interest in its execution”, Gazprom said in a written statement. Construction of the South Stream gas pipeline in Russia was initially scheduled to start in 2013 but was also pushed forward, to December 2012, following Turkey’s permission for the gas pipeline to be built under its waters in the- Black Sea.

 

The 900km-long and over 2 km deep South Stream will carry Russian gas to southern Europe through the Black Sea. Some 63 billion cubic meters per annum will run through the sea to Bulgaria, from where the route will go to Serbia, Hungary and Slovenia, and on to northern Italy.

 

Gazprom and Eni own a 50 per cent and 20 per cent stake in the USD 18.25bn project, respectively, while Germany’s Wintershall and France’s EDF each own 15 per cent. Russia is expected to provide around half of the funds required for the project.

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