Putin, Berlusconi to attend South Stream signing

The agreement on the construction of the South Stream gas pipeline will be signed today in the Russian city of Sochi. Srbijagas CEO Dusan Bajatovic will be signing the agreement on Serbia’s behalf, and the signing ceremony, which will also include an annex agreement signed between Italy and Russia’s state gas companies, will be attended by Prime Ministers Silvio Berlusconi and Vladimir Putin. Putin, Berlusconi to attend South Stream signing Russian Gazprom will be signing agreements for the pipeline with state gas companies from Serbia, Bulgaria, Italy and Greece. Even though certain media sources have stated that Gazprom and Italian ENI have still to fully agree on the distribution of income and management mechanisms, Bajatovic said that the agreement would definitely be signed. “It is good that Putin and Berlusconi will be present at the meeting and that the second annex agreement between Gazprom and ENI will effectively be signed, which is only further conformation that South Stream really will be constructed,” Bajatovic said. The agreement with Gazprom will become the basis for the formation of a joint company between that company and Srbijagas, which will have its headquarters in Switzerland. Bajatovic said that what was most important about this agreement being signed was that it proved that plans to construct the pipeline had not been put on hold. “Since the business is done with Hungary and since negotiations are winding down with Austria, all the countries that were expected to be signatories of the gas arrangement we call South Stream will have signed agreements with Gazprom, and this should be seen as progress, as a guarantee that South Stream will be completed by December 21, 2015 as planned,” Bajatovic said. The section of the pipeline running through Serbia is expected to be 450 kilometers long and have an annual capacity of 20 billion cubic meters.

Putin, Berlusconi to attend South Stream signing

Russian Gazprom will be signing agreements for the pipeline with state gas companies from Serbia, Bulgaria, Italy and Greece.

Even though certain media sources have stated that Gazprom and Italian ENI have still to fully agree on the distribution of income and management mechanisms, Bajatović said that the agreement would definitely be signed.

“It is good that Putin and Berlusconi will be present at the meeting and that the second annex agreement between Gazprom and ENI will effectively be signed, which is only further conformation that South Stream really will be constructed,” Bajatović said.

The agreement with Gazprom will become the basis for the formation of a joint company between that company and Srbijagas, which will have its headquarters in Switzerland.

Bajatović said that what was most important about this agreement being signed was that it proved that plans to construct the pipeline had not been put on hold.

“Since the business is done with Hungary and since negotiations are winding down with Austria, all the countries that were expected to be signatories of the gas arrangement we call South Stream will have signed agreements with Gazprom, and this should be seen as progress, as a guarantee that South Stream will be completed by December 21, 2015 as planned,” Bajatović said.

The section of the pipeline running through Serbia is expected to be 450 kilometers long and have an annual capacity of 20 billion cubic meters.