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Agreement for South Stream Construction in Serbia to be Signed by late June

Source: www.gulfoilandgas.com 6/17/2014, Location: Asia

The Gazprom headquarters hosted a working meeting between Alexey Miller, Chairman of the Company's Management Committee and Slavenko Terzic, Ambassador Extraordinary and Plenipotentiary of the Republic of Serbia to the Russian Federation.

The meeting participants reviewed the bilateral cooperation in the gas sector, paying special attention to the progress with South Stream. It was pointed out that the project was advancing in strict compliance with the schedule. At present, the bidding procedure for designing, constructing and commissioning the Serbian section is nearing completion. The bidding results will be announced and the relevant agreement will be signed in late June 2014.

It was pointed out that the Banatski Dvor UGS facility, currently operating in Serbia as a part of the South Stream infrastructure, significantly reinforced the energy security in the Republic. By the forthcoming heating season the working gas capacity in the UGS facility will be increased to its maximum of 450 million cubic meters in order to provide an extra guarantee of reliable Russian gas supplies to Serbian consumers during the next winter period.

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