Alexey Miller, Chairman of the Gazprom Management Committee met today with Milorad Dodik, President of Republika Srpska as part of the XI International Investment Forum “Sochi – 2012”.

The parties signed the Memorandum of Understanding that fixes mutually beneficial partnership and cooperation between Gazprom and the Government of Republika Srpska.

In particular, the parties discussed possible construction of a gas lateral from South Stream to Republika Srpska and gasification of the population centers along its route as part of the Memorandum.

Besides, the document expressed the parties' potential mutual interest in developing power industry projects, including conversion of power plants in Republika Srpska to natural gas.

“The Memorandum we signed today proves the timeliness of Gazprom's European projects in the energy sector. The growing demand for natural gas as the most eco-friendly fuel and our partners' intention to ensure stability of supplies are crucial for successful implementation of our projects,” said Alexey Miller.

Background

Republika Srpska is a state entity within Bosnia and Herzegovina.

With a view to diversify the natural gas export routes Gazprom is planning to construct a gas pipeline running under the Black Sea to the countries of Southern and Central Europe – the South Stream project.

Intergovernmental agreements have been signed with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria in order to implement the onshore gas pipeline section.