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Gazprom & Slovenia Setting up Joint Company for S.Stream

Source: www.gulfoilandgas.com 5/31/2012, Location: Asia

Led by Alexey Miller, Chairman of the Gazprom Management Committee, the Company's delegation made a business trip to Slovenia.

During the visit Alexey Miller met with Janez Jansa, Prime Minister of Slovenia.

The parties discussed the status of the Russian-Slovenian cooperation in the energy sector regarding, first of all, implementation of the South Stream project and the terms and conditions for Russian gas supplies to Slovenia.

It was highlighted that the constituent documents had been signed and submitted to state registration bodies. The documents contain, inter alia, the Articles of Association of the joint project company (JPC) South Stream Slovenia LLC, being established by Gazprom and Plinovodi for the South Stream project implementation in the Republic of Slovenia.

South Stream Slovenia LLC will deal with spatial planning, environmental impact assessment and basic design work. The shareholding in the company will be split on a parity basis between Gazprom and Plinovodi.

Upon the JPC incorporation, the parties will initiate the procedure of granting the project of national significance status to the South Stream gas pipeline in Slovenia. The JPC registration will be completed in the nearest future.

Based on the meeting results, the parties noted that Gazprom together with the Slovenian party would continue intense efforts on South Stream implementation to get the project's final investment decision adopted in November 2012.

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