Friday, November 17, 2006

Oil and Gas: Serbia and Russia finalise pipeline deal

Serbia and Russia's Gazprom have finalised the details of a deal to build a gas pipeline running from Bulgaria through Serbia and Croatia to Italy, Economy Minister Predrag Bubalo said today.

Bubalo told a news conference, "We finally harmonised the memorandum of understanding with the Russian side and we expect it will be signed around 20 December,"adding, "This will be a big project, a greenfield investment."

The MoU was reached between the government, Serbia's gas monopoly Srbijagas and Gazprom's export arm Gazpromexport, Bubalo said.