Russians to increase ownership in South Stream Serbia AG?

The Board of Directors of the Russian giant Gazprom will deliberate on the purchase of an additional share in the company South Stream Serbia AG on February 13, the Russian company announced.

Let us remind that a joint project company of Serbia and Russia, South Stream Serbia AG, 51% of which is owned by Gazprom and 49% of which is owned by Serbia, was founded in Switzerland for the purpose of the construction of the South Stream Pipeline along the bottom of the Black Sea.

The project was supposed to diversify the supply of Russian gas to Europe.

However, in 2014, the European Parliament recommended the abandonment of the project of the construction of the pipeline, and Russian President Vladimir Putin said in December 2014 that Russia would not continue the project given the situation as it was then.

At the same time, Russia announced a new project, the Turkish Stream. Serbia would like to receive gas delivered through this route. In December 2017, Putin said that Moscow and Belgrade were working on the possibility of connecting Serbia to the pipeline, the construction of whose sea part began in May 2017.

Balkan Magazin reported last week that the company Gastrans had been registered in Novi Sad and that it would be building a pipeline through Serbia by which Russian gas from the Turkish Stream would be transported through Serbia to Hungary. Gastrans is, in fact, the renamed and re-registered local company South Stream, the sole owner of which is the Swiss company South Stream Serbia AG.

Gazprom Moscow

GASTRANS d.o.o. Novi Sad

South Stream Serbia AG

South Stream

South Stream pipeline

Gazprom

transport of Russian gas

Russian gas

pipeline in Serbia

Vladimir Putin

Turkish Stream