The construction of the South Stream gas pipeline through Serbia is expected to begin in December, announced Dušan Bajatović, the CEO of Srbijagas, on Monday in Belgrade, after the shareholders’ assembly of South Stream Serbia adopted the final investment decision to commence work on the pipeline section.
The estimated value of constructing approximately 470 kilometers of this pipeline through Serbia is around 1.7 billion euros, with an annual capacity of 40 billion cubic meters of natural gas, and about 2,000 workers will be involved in the construction.
Gas from South Stream will also be distributed to Croatia and Bosnia and Herzegovina, with the first deliveries through this pipeline expected in December 2015, while full capacity of 63 billion cubic meters is expected to be reached by December 2017. The previously estimated value of the South Stream pipeline project is around 15.5 billion euros. The project is led by the Russian company Gazprom, with partners including the Italian company Eni, French EDF, and German Wintershall. In the company South Stream Serbia, registered in Switzerland, Russian Gazprom holds a 51 percent stake, while Srbijagas owns 49 percent.
