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Intergovernmental Agreement for South Stream in Republika Srpska

Source: www.gulfoilandgas.com 9/16/2014, Location: Asia

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The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Milorad Dodik, President of Republika Srpska.

The parties discussed the main areas and outlooks of the cooperation in the energy sector, placing an emphasis on the South Stream construction. At present, the parties involved in the project are finishing the preparation of the intergovernmental agreement providing for joint construction and subsequent operation of a gas branch from the gas trunkline to Republika Srpska as well as boosting the gas-based power industry in the country.

The meeting participants signed the Basic Terms and Conditions of natural gas supply to Republika Srpska. The document provides for gas export to Republika Srpska via the existing gas transmission corridors from the mid-2015 until the moment when South Stream gas pipeline will be commissioned in the country. It was stressed that the Basic Terms stipulated gas supplies under a direct contract with local gas company GAS RES.

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