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South Stream Construction in Serbia to Start in Late 2013

Source: www.gulfoilandgas.com 4/11/2013, Location: Asia

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The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Milan Bacevic, Minister of Natural Resources, Mining and Spatial Planning of the Republic of Serbia, Co-Chairman of the Russian-Serbian Intergovernmental Committee on Trade, Economic and Scientific & Technical Cooperation.

The participants of the meeting addressed the status of the bilateral cooperation in the energy sector, paying special attention to the collaboration within the South Stream project. It was noted that the project was being implemented in Serbia ahead of schedule. Thus, the construction of South Stream's Serbian section may start in late 2013 instead of 2014 as planned before. In addition, the parties discussed the financial aspects of the gas pipeline construction in Serbia.

At the end of the meeting, Alexey Miller and Milan Bacevic stressed that the project progress was indicative of the parties' mutual interest in its execution.

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