"Gazprom wants bigger stake in pipeline company in Serbia"

The board of directors of Russia's energy giant Gazprom will consider buying an additional stake in the company Juzni Tok Srbija (South Stream Serbia) AG.

Source: B92
(EPA, file)
(EPA, file)

This will happen on February 13, Gazprom has announced, according to TASS.

The joint project company South Stream Serbia AG (51 percent owned by Gazprom, and 49 percent by Serbia) was established by Serbia and Russia in order to build the now abandoned South Stream gas pipeline, that was designed to diversify the supply of Russian gas to Europe, TASS said.

As Russia canceled South Stream, it announced a new project - Turkish Stream, and Serbia wants to receive Russian gas in future via this route. In December 2017, President Vladimir Putin said that Moscow and Belgrade were working on the possibility of connecting Serbia with the pipeline, the construction of which begun in May 2017.

First gas deliveries through the pipeline are planned for the end of 2019.

Last week, Balkan Magazin reported that the company Gastrans has been registered in Novi Sad, whose purpose is to build a gas pipeline in Serbia that will be used to transport Turkish Stream gas from Bulgaria, through Serbia, to Hungary.

Gastrans is, in fact, South Stream Serbia registered under a new name, the report said. The company's directors remain the same: Dusan Bajatovic from the Serbian side, and Aleksandr Syromyatin, representing Russia.

Business & Economy

page 1 of 8 go to page