Serbia to get EUR half billion yearly from ‘Southern Stream’
November 18, 2009 – 12:37 pmAuthor: B. Stamenkovi? | 18.11.2009
The public enterprise ‘Srbijagas’ and the Russian ‘Gazprom’ registered in Switzerland yesterday a mutual enterprise for construction of the ‘Southern Stream’ gas pipeline through Serbia as Dusan Bajatovic ‘Srbijagas’ General director confirmed to ‘Blic’.
As said earlier, ‘Srbijagas’ shall have a 49 percent stake in the mutual company while ‘Gazprom’ shall have the majority share of 51 percent.
The stretch through Serbia should be 450 kilometers long with capacity of 36 to 41 billion cubic meters of gas per year. The value of investments in that part of the gas pipeline shall be EUR 700 millions at least. As recently said by Bajatovic the income from the transit tax for Serbia might be EUR half a billion annually.
The future gas pipeline the ‘Southern Stream’, a joint project by ‘Gazprom’ and Italian ‘ENI’ is to transport Russian gas below the Black Sea through a pipeline 900 kilometers long to the Bulgarian Port of Varna, via Balkan Peninsula, Serbia, Hungary and further to Austria and Italy.
The value of investment has been estimated to EUR 20 billions. The capacity of the gas pipeline should be 63 billion cubic meters of gas yearly. The construction is to begin in 2011 and should be finished until the end of 2015.
The agreement on construction of the ‘Southern Stream’ has been signed by Serbia, Bulgaria, Slovenia, Hungary and Greece.
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