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    Bloomberg: Gazprom Neft to Start Building Serbian Gas Pipeline by December

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Summary

OAO Gazprom Neft will start construction of the Serbian leg of the South Stream natural gas pipeline project in Decemnber 2012. Serbia would like to diversify naturla gas imports as they currently come from Russia via Hungary and Ukraine.

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Bloomberg: Gazprom Neft to Start Building Serbian Gas Pipeline by December

OAO Gazprom Neft, the majority owner of Serbia’s dominant oil company Naftna Industrija Srbije AD (NIIS), will start building the Serbian section of its South Stream gas pipeline by December.

The construction of the 411-kilometer (255 miles) pipeline will cost 1.9 billion euros ($2.32 billion), Serbian President Tomislav Nikolic’s press office said in an e-mail today after a meeting with a Russian business delegation led by Dmitry Malyshev, an adviser to GazpromNeft’s general manager.  MORE

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