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GAZPROM

February 7, 2013

South Stream to become project of national interest in Serbia soon

The Gazprom headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Dusan Bajatovic, Director General of state-owned Srbijagas.

A focus of the meeting fell on the progress with the South Stream project execution in Serbia. The front end engineering and design documents are currently being prepared in order to start the construction of the project infrastructure. In the nearest future the Skupstina of the Republic of Serbia will adopt a bill on awarding South Stream with the status of the project of national interest.

The parties also addressed Russian gas supplies to Serbia.

Background

In 2012 Gazprom supplied Serbia with 0.74 billion cuboc meters of natural gas.

Srbijagas is a state-owned company dealing with natural gas transmission, distribution and storage in Serbia.

With a view to diversify the natural gas export routes Gazprom is implementing the project for the construction of a gas pipeline running under the Black Sea to the countries of Southern and Central Europe  the South Stream project. Intergovernmental agreements were signed with Bulgaria, Serbia, Hungary, Greece, Slovenia and Croatia in order to implement the onshore gas pipeline section.

In November 2009 the South Stream Serbia AG joint project company was registered. Gazprom holds a 51 per cent stake in the company and Srbijagas  a 49 per cent stake.

The Banatski Dvor UGS facility was ceremonially put onstream on November 21, 2011. The UGS  facility is one of the largest gas storages in Southeastern Europe. Its working gas volume makes up 450 million cubic meters, maximum deliverability  5 million cubic meters per day.

In October 2012 the final investment decision was approved for the South Stream project in Serbia.

 

 

 

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