The construction of the South Stream gas pipeline section in Serbia may start in late 2013 instead of 2014 as planned before, as Serbia and Russia are strengthening their bilateral cooperation in the energy sector.
In November 2009, South Stream Serbia joint project company was created, with Gazprom holding a 51% stake in the company and Srbijagas a 49% stake. In March 2013 a long-term contract was signed for Russian gas supplies to Serbia in the amount of up to 1.5 bcm/year of gas for a period of 10 years. Gas will be conveyed via the existing route and in the future, via the South Stream gas pipeline. The South Stream is expected to deliver up to 63 bcm/year of gas to Europe and will be implemented in two phases (completion in 2019).
Source: Gazprom