December 2012, Vol. 239 No. 12

Projects

FID taken for South Stream Offshore pipeline

On Nov. 14 in Milan, the Board of Directors of South Stream Transport, incorporating representatives of OAO Gazprom, ENI, EDF and BASF SE, discussed key issues related to the implementation of the South Stream project and made the Final Investment Decision (FID) for the South Stream Offshore Pipeline.

“The South Stream contribution to the energy security of Europe cannot be underestimated. It creates alternative and reliable natural gas supply routes to reach our customers. I would like to congratulate all of us with today’s decision of the BOD which signifies the start of the South Stream Project implementation,” Alexei Miller said.

The BOD approved the registration of South Stream Transport B.V. in Amsterdam. Project implementation will be carried out according to terms and schedule agreed by BOD at the beginning of this year.