Final investment decision on South Stream in Croatia to be made in November
Led by Leonid Chugunov, Head of the Gazprom Project Management Department, Company's delegation made a business trip to the Republic of Croatia.
As part of the visit, the talks were held with Mladen Antunovic, President of the Board of Plinacro, on the South Stream project implementation in Croatia.
Radimir Cacic, Croatian First Deputy Prime Minister and Minister of Economy welcomed the delegation. The parties reviewed the progress with the South Stream project highlighting its strict compliance with the schedule. The meeting participants stressed the need for the project to receive the national status in Croatia. In addition, it was agreed that the final investment decision would be made by November 15, 2012. Following the meeting, the Croatian party proposed for consideration by Gazprom some alternative approaches to the project implementation in Croatia.
With a view to diversify the natural gas export routes Gazprom is implementing the project for construction of a gas pipeline running under the Black Sea to the countries of Southern and Central Europe – the South Stream project.
In March 2010 Russia and Croatia signed the Intergovernmental Agreement stipulating Croatia to join the South Stream project.
In November 2011 a national Feasibility Study was signed.
The decision on setting up a joint project company by Gazprom and Plinacro (authorized Croatian company) for further implementation of South Stream in Croatia will be made in the nearest future.