South Stream deal to be signed Friday

Srbijagas CEO Dusan Bajatovic will travel to Sochi on Friday to sign the founding agreement for the construction of the South Stream gas pipeline with Gazprom. Bajatovic said that it had been agreed with Gazprom that the section of the pipeline running through Serbia would be about 450 kilometers long, and that the capacity would be in excess of 20 billion cubic meters of gas per year. South Stream deal to be signed Friday He said that Srbijagas would be contractually guaranteed a say in all important decisions regarding the work of the new joint company, where Gazprom owns a 51 percent stake, and Srbijagas 49 percent. According to Russian media, the agreement will be signed on Friday in Sochi, in the presence of both Russian and Italian Prime Ministers Vladimir Putin and Silvio Berlusconi. No official information on the pipeline negotiations has been forthcoming from either Gazprom or the Russian government. Russian daily Kommersant says that a transitional document regarding the project will be signed on Friday. Under the project, a joint venture between Gazprom and Italian ENI, Russian gas would be transported under the Black Sea via the 900-kilometer-long pipeline to Bulgaria and then to other European countries. The plan is that South Stream, which will cost in the region of EUR 10 billion, will be finished by 2015.

South Stream deal to be signed Friday

He said that Srbijagas would be contractually guaranteed a say in all important decisions regarding the work of the new joint company, where Gazprom owns a 51 percent stake, and Srbijagas 49 percent.

According to Russian media, the agreement will be signed on Friday in Sochi, in the presence of both Russian and Italian Prime Ministers Vladimir Putin and Silvio Berlusconi.

No official information on the pipeline negotiations has been forthcoming from either Gazprom or the Russian government.

Russian daily Kommersant says that a transitional document regarding the project will be signed on Friday.

Under the project, a joint venture between Gazprom and Italian ENI, Russian gas would be transported under the Black Sea via the

900-kilometer-long pipeline to Bulgaria and then to other European countries.

The plan is that South Stream, which will cost in the region of EUR 10 billion, will be finished by 2015.