Gazprom makes Serbia a transit country for Russian gas supplies

Energy Trade

OAO Gazprom, Russia's natural-gas export monopoly, agreed to help turn Serbia into a transit country for Russian gas deliveries to Europe.

Gazprom Deputy CE Alexander Medvedev signed a memorandum of understanding with Serbian Mining and Energy Minister Radomir Naumov in Belgrade today, Gazprom said in an e-mailed statement. Gazprom is seeking to diversify transit routes to Europe, which receives a quarter of its gas needs from Russia. Gazprom plans to build a pipeline under the Baltic Sea directly to Germany, bypassing Belarus and Ukraine. The company is also studying the possibility of extending its Blue Stream pipeline to Turkey into the Balkans. Gazprom and its Serbian partners will study the possibility of increasing the capacity of Serbia's gas pipelines, the company said. The project involves building a 400-kilometer (240-miles) pipeline that would link Serbia with neighboring Bulgaria and Croatia and continue on to consumers in central and western Europe, the Serbian ministry said in a statement yesterday. The pipeline would have an annual capacity of 20 billion cubic meters of gas, or nearly 10 times the country's current needs. Serbia's partner in the venture will be the state-run gas company Srbijagas. The project is estimated to cost €1 billion ($1.3 billion) with construction starting as early as next year, the ministry said. (Bloomberg)


The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.