Gazprom and Geoplin Agree on South Stream Slovenia

Source: www.gulfoilandgas.com 3/22/2011, Location: Europe

Alexey Miller, Chairman of the Gazprom Management Committee and Marjan Eberlinc, President of the Board of Geoplin plinovodi d.o.o. signed the South Stream Slovenia LLC Shareholders’ Agreement in Ljubljana (Slovenia) as part of the official visit of Russian Prime Minister Vladimir Putin. South Stream Slovenia LLC is a joint project company being set up on a parity basis to implement the South Stream project in Slovenia.

South Stream Slovenia LLC is engaged in project documentation preparation, fundraising, construction and operation of the gas pipeline in Slovenia.

“Creation of the joint project company demonstrates a serious approach of Gazprom and Geoplin plinovodi to the South Stream project implementation in Slovenia. The project is to give a fresh impetus to the economy of Southern and Central Europe: South Stream is to create new jobs, attract investments and boost regional integration processes.

Cooperation of energy companies within this multinational project will increase reliability and flexibility of Russian gas supply to the European markets,” Alexey Miller noted.

“With the accession to the creation of the joint venture company South Stream Slovenia, Geoplin plinovodi and Gazprom are concluding intensive and very successful preparatory activities, whereas with the signing of the agreement itself, the companies further confirm project's wider significance and role.

South Stream project is an opportunity for Slovenia to strengthen, within the activities of Geoplin plinovodi and Gazprom, its international position on the list of countries with a safe and reliable energy transfer, which is very important today. The project's significance is even greater because of the challenges that global energy policy faces due to the consequences of a wide range of natural and social phenomena we have been witnessing recently,” Marjan Eberlinc said.


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