South Stream deal to be signed May 15

Srbijagas CEO Dušan Bajatović says that the agreement on the construction of the South Stream gas pipeline is likely to be signed with Gazprom on May 15.

Izvor: B92

Tuesday, 12.05.2009.

10:02

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Srbijagas CEO Dusan Bajatovic says that the agreement on the construction of the South Stream gas pipeline is likely to be signed with Gazprom on May 15. “The South Stream gas pipeline through Serbia will have a capacity of 20 billion cubic meters of gas, as stipulated in the agreement between Serbia and Russia’s gas companies,” Bajatovic said. South Stream deal to be signed May 15 He said that the agreement between the national gas companies would be signed in Sochi at a conference that will be held from May 14-16. The Srbijagas CEO said that the agreement, which had been harmonized and initialed, would come before the government this week. “Even though we have 49 percent of the capital, it is important that we have a list of differences of opinion, where we completely protect the interests of the Serbian side, so that we don’t have a situation where we have 49 percent of the capital and get outvoted every time, but have key things agreed on with the approval of Srbijagas,” Bajatovic explained. “What is also important is that the capacity of the pipeline is at a level of 20 billion cubic meters. No deadlines will be altered, and the route of the pipeline will go through Serbia for about 450 kilometers. That’s a ball-park figure, and depends on the actual agreement with Bulgaria and Hungary,” the Srbijagas CEO said. He said that sooner or later, an agreement would be signed between Russian Gazprom and the national gas companies of Serbia, Greece, Bulgaria and Italy, contractually defining the layout of all South Stream’s sections. “Only final capacities remain to be taken care of, because the feasibility studies, which will determine how many end users there will be, aren’t yet finished. What’s important when making projections is that there will be reserves left over for the pipeline’s capacity to be raised by an added 20 to 30 percent, either by increasing the pressure in the pipes or by increasing the number of compressor stations,” the Srbijagas CEO said. The pipeline construction feasibility study is expected to be complete by September 30, while the South Stream project, as a whole, should be ready by June 30, 2010. The pipeline through Serbia is expected to be constructed by the end of 2015 at the latest.

South Stream deal to be signed May 15

He said that the agreement between the national gas companies would be signed in Sochi at a conference that will be held from May 14-16.

The Srbijagas CEO said that the agreement, which had been harmonized and initialed, would come before the government this week.

“Even though we have 49 percent of the capital, it is important that we have a list of differences of opinion, where we completely protect the interests of the Serbian side, so that we don’t have a situation where we have 49 percent of the capital and get outvoted every time, but have key things agreed on with the approval of Srbijagas,” Bajatović explained.

“What is also important is that the capacity of the pipeline is at a level of 20 billion cubic meters. No deadlines will be altered, and the route of the pipeline will go through Serbia for about 450 kilometers. That’s a ball-park figure, and depends on the actual agreement with Bulgaria and Hungary,” the Srbijagas CEO said.

He said that sooner or later, an agreement would be signed between Russian Gazprom and the national gas companies of Serbia, Greece, Bulgaria and Italy, contractually defining the layout of all South Stream’s sections.

“Only final capacities remain to be taken care of, because the feasibility studies, which will determine how many end users there will be, aren’t yet finished. What’s important when making projections is that there will be reserves left over for the pipeline’s capacity to be raised by an added 20 to 30 percent, either by increasing the pressure in the pipes or by increasing the number of compressor stations,” the Srbijagas CEO said.

The pipeline construction feasibility study is expected to be complete by September 30, while the South Stream project, as a whole, should be ready by June 30, 2010.

The pipeline through Serbia is expected to be constructed by the end of 2015 at the latest.

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