South Stream annex, storage facility deals

An agreement on setting up of a joint Russo-Serbian company for the Banatski Dvor gas storage and an annex on the South Stream gas pipeline. The document was signed by Serbia's public gas company Srbijagas General Director Dusan Bajatovic and Chairman of the Gazprom Management Committee Alexei Miller in Belgrade on Tuesday. South Stream annex, storage facility deals “Negotiations on Banatski Dvor were completed and this was finalized today. We also made an agreement on deadlines for the construction of the South Stream gas pipeline,” Bajatovic told Tanjug after the signing of the agreements, adding that a “correction” was made on the deadlines included in the contract on the South Stream construction. Gazprom will hold a 51 percent stake in the new company, while Srbijagas will control the remaining 49 percent. Setting up of a joint company for the modernization of the underground gas storage in Banatski Dvor is one of the three elements of the oil and gas arrangement, which was signed by Serbia and Russia in late 2008. The joint investment should increase the capacity of the Banatski Dvor storage to at least 800 million cubic meters of gas. The oil and gas arrangement between Serbia and Russia also includes setting up of a joint company for the construction of a section of the South Stream gas pipeline through Serbia, which is why a Founding Agreement was signed in Sochi on May 15, 2009. The agreements were signed today as Russian President Dmitry Medvedev is visiting Serbia.

South Stream annex, storage facility deals

“Negotiations on Banatski Dvor were completed and this was finalized today. We also made an agreement on deadlines for the construction of the South Stream gas pipeline,” Bajatović told Tanjug after the signing of the agreements, adding that a “correction” was made on the deadlines included in the contract on the South Stream construction.

Gazprom will hold a 51 percent stake in the new company, while Srbijagas will control the remaining 49 percent.

Setting up of a joint company for the modernization of the underground gas storage in Banatski Dvor is one of the three elements of the oil and gas arrangement, which was signed by Serbia and Russia in late 2008.

The joint investment should increase the capacity of the Banatski Dvor storage to at least 800 million cubic meters of gas.

The oil and gas arrangement between Serbia and Russia also includes setting up of a joint company for the construction of a section of the South Stream gas pipeline through Serbia, which is why a Founding Agreement was signed in Sochi on May 15, 2009.

The agreements were signed today as Russian President Dmitry Medvedev is visiting Serbia.