South Stream Ownership Set

Gazprom CEO Alexei Miller has announced that Electricite de France and Germany's Wintershall Holdings will each hold a 15 percent interest in the South Stream gas pipeline project, with Italy's Eni SpA obtaining a 20 percent interest.  Gazprom, the originator of the project, will hold the remaining 50% interest.

The companies are to sign a shareholder agreement on September 16 in the Russian Black Sea resort city of Sochi.

The South Stream pipeline, to be constructed at a estimated cost of will amount to of $21.5 billion, will transport over 63 billion cubic metres of natural gas to central and southern Europe under the Black Sea, bypassing traditional transit countries such as Ukraine.