OREANDA-NEWS.  Sochi hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Dusan Bajatovic, Director General of state-owned Srbijagas.

The meeting participants looked into the cooperation in the oil and gas sector, touching upon Russian natural gas supply, underground storage, joint infrastructure projects and interaction in the energy sector.

Special attention was paid to implementing the South Stream project in Serbia. An environmental impact assessment was successfully finished in the Republic; spatial planning procedures aligned with the national law are nearing completion.

Background

South Stream is Gazprom's global infrastructure project aimed at constructing a gas pipeline with a capacity of 63 billion cubic meters across the Black Sea to Southern and Central Europe for the purpose of diversifying the natural gas export routes and eliminating transit risks. The first gas will be supplied via South Stream in late 2015. The gas pipeline will reach its full capacity in 2018.
South Stream Serbia joint project company (Gazprom and Srbijagas holding 51 and 49 per cent stakes respectively) is implementing the project in Serbia.
In February 2013 the Parliament of the Republic of Serbia adopted the Law on the Public Interest and the Special Expropriation and Permitting Procedures with regard to the South Stream Construction.
In March 2013 the long-term Contract was signed for Russian natural gas supply to Serbia in the amount of up to 1.5 billion cubic meters of gas annually for a period of 10 years. Gas will be conveyed via the existing route and subsequently – via the South Stream gas pipeline.
On November 24, 2013 the ceremony of welding the first joint of the Serbian section of the South Stream gas pipeline took place in the vicinity of Sajkas village, South Backa District.
In November 2011 the Banatski Dvor UGS facility – one of the largest gas storages in Southeastern Europe – was commissioned with a view to secure reliable gas supply via the South Stream gas pipeline. Its working gas capacity is 450 million cubic meters and maximum daily deliverability is 5 million cubic meters.
In 2013 Gazprom supplied 1.14 billion cubic meters of natural gas to Serbia.