Serbia South Stream Construction Deal to Be Signed Soon

South Stream Construction Agreement to be Signed by Late June

Alexey Miller of Gazprom met in Moscow with Ambassador Extraordinary and Plenipotentiary of the Republic of Serbia to the Russian Federation on Tuesday.

The meeting participants reviewed the bilateral cooperation in the gas sector, paying special attention to the progress with South Stream. It was pointed out that the project was advancing in strict compliance with the schedule. At present, the bidding procedure for designing, constructing and commissioning the Serbian section is nearing completion. The bidding results will be announced and the relevant agreement will be signed in late June 2014,” Russia’s gas giant Gazprom said in a statement.

It was pointed out that the Banatski Dvor UGS facility, currently operating in Serbia as a part of the South Stream infrastructure, significantly reinforced the energy security in the Republic”, it added.

South Stream is Gazprom’s global infrastructure project aimed at constructing a gas pipeline with a capacity of 63 billion cubic meters across the Black Sea to Southern and Central Europe for the purpose of diversifying the natural gas export routes and eliminating transit risks.

The first gas will be supplied via South Stream in late 2015. The gas pipeline will reach its full capacity in 2018.

Press Release, June 18, 2014

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