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Alexey Miller and Henning Voscherau considered the progress with the South Stream project realization

Background

For the purpose of diversifying natural gas export routes Gazprom is constructing a gas pipeline across the Black Sea to Southern and Central Europe – the South Stream project. Intergovernmental agreements were signed with Bulgaria, Serbia, Hungary, Greece, Slovenia and Croatia in order to implement the onshore gas pipeline section.

On September 16, 2011 the South Stream Transport Shareholders Agreement was signed to implement the offshore gas pipeline section. As a result, Gazprom acquired a 50 per cent stake in the project, Eni – a 20 per cent stake, Wintershall Holding and EDF – 15 per cent stakes each.

In the third quarter of 2011, the Consolidated Feasibility Study of South Stream was finalized and included the feasibility study of the offshore section and feasibility studies of the respective gas pipelines in the host countries of Southern and Central Europe.

On December 7, 2012 the South Stream gas pipeline construction was launched near Anapa (Krasnodar Territory).

First gas supplies via the gas pipeline are scheduled for late 2015.