South Stream joint company expected next week

Next week will see the start of the establishment of a joint Russo-Serbian company to build the South Stream natural gas pipeline, writes daily Politika.

Izvor: Politika

Saturday, 25.07.2009.

19:20

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Next week will see the start of the establishment of a joint Russo-Serbian company to build the South Stream natural gas pipeline, writes daily Politika. The contract to actually set up the new company will be signed once Serbian public company Srbijagas' property status has been determined, the Belgrade newspaper explains in an article published this Saturday. South Stream joint company expected next week The joint firm, which Srbijagas will establish with Russia's Gazprom, is expected to be registered in the second half of next week, according to the article, which quotes Srbijagas Director Dusan Bajatovic. The company will oversee the construction of the pipeline stretch through Serbia. After this, Bajatovic said, the formal process of setting up the joint company will start, while the founding contract will in fact be a document that confirms the company will be headquartered in Switzerland. The company will then proceed to make a feasibility study regarding the profitability of the job. A complete study for all the countries that are taking part in the project is expected in mid-2010, when its financial justification, precise routes and capacity will be determined. As things stand now, the pipeline will enter Serbia near the eastern town of Zajecar, while the main hub is expected be located close to the Belgrade suburb of Batajnica. "It's necessary to harmonize the status of those assets that Srbijagas brings into the joint company with the new Law on Planning and Construction," said Bajatovic. "Srbijagas cannot define the status of that property, since it has ownership over a part of it, usage rights for other parts, while the status of some plots is completely unclear."

South Stream joint company expected next week

The joint firm, which Srbijagas will establish with Russia's Gazprom, is expected to be registered in the second half of next week, according to the article, which quotes Srbijagas Director Dušan Bajatović.

The company will oversee the construction of the pipeline stretch through Serbia.

After this, Bajatović said, the formal process of setting up the joint company will start, while the founding contract will in fact be a document that confirms the company will be headquartered in Switzerland.

The company will then proceed to make a feasibility study regarding the profitability of the job.

A complete study for all the countries that are taking part in the project is expected in mid-2010, when its financial justification, precise routes and capacity will be determined.

As things stand now, the pipeline will enter Serbia near the eastern town of Zaječar, while the main hub is expected be located close to the Belgrade suburb of Batajnica.

"It's necessary to harmonize the status of those assets that Srbijagas brings into the joint company with the new Law on Planning and Construction," said Bajatović. "Srbijagas cannot define the status of that property, since it has ownership over a part of it, usage rights for other parts, while the status of some plots is completely unclear."

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