Clarion Partners - Owner's Engineer

Miller: No delay in construction of S. Stream

, Uncategorized


The construction of the South Stream gas pipeline will begin in 2013 and finish by the end of 2015, and there will be no delay in realization of this project.

This was heard on Monday from Gazprom Management Committee Chairman Alexei Miller.

Miller said at the opening of the Banatski Dvor underground gas storage in northern Serbia, which he attended in the presence of Serbian President Boris Tadic, that this was the first facility within the South Stream project.

The Gazprom chairman underlined that the Russian gas and oil giant was “interested to invest in construction of gas facilities in Serbia”, adding that realization of these projects will be one of the topics of Monday’s talks with Serbian officials.

Miller said that the meeting will address a long-term delivery of Russian gas to Serbia at lower prices, adding that the final agreement should be preceded by an interstate agreement between Russia and Serbia on gas delivery to the Serbian market.

He said that the Gazprombank was ready to open a branch in Serbia, and that this was one of the issues which will be tabled in the talks.

Miller recalled that he was also scheduled to visit NIS’ Pancevo Oil Refinery on Monday, where he will open a new command room, and announced that the modernization of the refinery will be finished by the end of 2012.

The modernization of the Pancevo Oil Refinery will be supported with EUR 550mn, he said, adding that a year after the completion of the project NIS will be able to export oil products amounting to billion euros.



error: Content is protected !!