Serbia and Gazprom agreed to form a joint venture to develop an arm of the South Stream gas pipeline through the Balkan country by Nov. 17, Srbijagas CEO Dusan Bajatovic said Tuesday.
Srbijagas will have 49 percent of the company and Gazprom the rest, Bajatovic said. The company will be formed in Zug, Switzerland, he said.
Serbia’s part of the pipeline should be 440 kilometers with an annual capacity of 20 billion cubic meters of gas. The total investment may reach 700 million euros ($1.1 billion), Bajatovic said.
(Bloomberg)