Tuesday, May 12, 2009

Gas: Gazprom/DESFA agreed on Greek section of South Stream

Source: FOCUS Information Agency

The Hellenic Gas Transmission System Operator /DESFA/ and Russian Gazprom had signed an agreement on establishing joint company, which will build and manage Greek part of South Stream pipeline, Naftemporiki informs.

According to information Greek Minister of Development Kostis Hatzidakis will meet with Russian Ambassador to Greece on Wednesday to consider details on signing the agreement. It will be signed Friday in Moscow.

Such agreements had been signed with Serbia and Ukraine- countries through which north part of the pipeline will pass.

South part of the pipeline will past through Greece and will reach Italy through underwater equipment. Its capacity is about 10 bln m2 per year.

Significant part of the equipment will pass through Bulgaria, from where it will ramify to Serbia and Greece.

Agreement between GazprŠ¾m and Bulgarian company has not been signed yet due to dissensions on network usage.

It is about to be signed after Russian and Bulgarian Prime Ministers Vladimir Putin and Sergey Stanishev had agreed on Moscow to built separate network on pipeline’s transit passing.
Published by Mike Hitchen, Mike Hitchen Consulting
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