Contract on South Stream gas pipeline project terminated

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The contract on the project of construction of the South Stream pipeline was terminatred, Gazprom, Russian gas company has communicated today.

As Russian agency Tas reports, Board of Directors at Gazprom approved agreement with Juzni tok transport B.V. company on termination of the contract on guarantees which refer to commitments of Gazprom Export from the agreement on gas transport October 2, 2013, it was stated in the announcement of the Russian company.

As added in the announcement, Juzni tok transport B.V. accepted to set Gazprom free form all commitments signed within the contract on guarantees with respect to commitments of Gazprom Export from the agreement on gas transport dated October 2, 2013 and to terminate the contract.