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South Stream Comes to Serbia

Source: www.gulfoilandgas.com 11/24/2013, Location: Asia

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Serbia hosted the ceremony of welding the first joint of the Serbian section of the South Stream gas pipeline. The ceremony took place in the vicinity of Sajkas village, South Backa District.

“Right after Bulgaria we started building South Stream in Serbia. The project is strategically important for the entire Europe. The new trans-European gas transmission system will eliminate the pressing problem of transit risks and secure uninterrupted Russian gas supplies to dozens of thousands of European consumers. South Stream will adjust the European energy map for the better, becoming an integral part of the EU's energy security system.

The gas pipeline construction in Serbia will add considerable momentum to the development of the whole gas transmission system, turning the country into a large gas transit and storage center of the European significance. South Stream will boost integration and economic processes in the region, attracting over EUR 1.5 billion of direct investments to Serbia and creating more than 2.5 thousand jobs for the construction period.

Hungary is next in turn for the South Stream construction to begin,” said Alexey Miller.

In the presence of Tomislav Nikolic and Alexander Novak, Alexey Miller and Dusan Bajatovic signed the Agreement for gas transportation via the South Stream gas pipeline across Serbia.

The Palace of Serbia hosted a working meeting between Alexey Miller and Milorad Dodik, President of the Republika Srpska entity of Bosnia and Herzegovina. The parties discussed the progress with the preparation of an intergovernmental agreement between the Russian Federation and Bosnia and Herzegovina regarding cooperation in the natural gas and power generation sectors.

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