Serbia's state-run gas company and Russia's OAO Gazprom (GAZP.RS) opened Monday an underground gas storage facility as a part of the future South Stream pipeline, Tanjug news agency reported.
Serbia
's
state-run gas company and
Russia
's OAO
Gazprom (GAZP.RS) opened Monday an underground gas storage facility as a part
of the future South Stream pipeline, Tanjug news agency reported.
The storage facility in the northern town of
Banatski
Dvor
has a capacity of 450 million cubic meters of gas,
the agency quoted Srbijagas head Dusan Bajatovic as saying.
Serbian President Boris Tadic and Gazprom chairman Alexei Miller attended the
official launching of the reconstructed facility that will be managed by a
joint company founded in 2009 in which Gazprom has 51% stake, while Srbijagas
controls 49%.
The value of the joint venture is estimated at about RUR50 million.
The storage facility will serve as a part of the EUR20 billion South Stream
pipeline that should be completed by 2015 and will run from
Russia
under
the
Black Sea
to
Bulgaria
,
Serbia
and
Hungary
before branching out to
Western Europe
.
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