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GAZPROM

January 17, 2013

Joint company for South Stream gas branch construction to Croatia to be set up in second half of 2013

Led by the Company's Management Committee Chairman Alexey Miller, a Gazprom delegation made a business trip today to the Republic of Croatia. As part of the visit, working meetings were held with Ivo Josipovic, President of the Republic of Croatia and Vesna Pusic, First Deputy Prime Minister  Foreign Minister of the Republic of Croatia.

The meetings discussed the prospects for resuming Russian natural gas supplies to the Republic of Croatia, constructing natural gas-fired power generating facilities in the country, as well as utilizing natural gas as a road and waterborne vehicles fuel. Moreover, the possibilities for Gazprom's participation in geological exploration and production projects in Croatia were addressed.

The parties paid special attention to the South Stream project implementation in Croatia  the spatial planning and environmental impact assessment procedures required by national law are currently at their final stage.

As part of the visit, Gazprom and Plinacro inked an Action Plan to implement the South Stream project in Croatia between 2013 and 2016. The document envisages that a joint project company for building a gas branch to Croatia will be set up at the beginning of the second half of 2013.

Background

Natural gas supplies to the Republic of Croatia started in 1978.

Based on the Intergovernmental Agreement signed in 1992, 1.2 billion cubic meters of natural gas was annually supplied to Croatia until late 2010.

With a view to diversify the natural gas export routes Gazprom is implementing the project for the 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.

In order to implement the South Stream project in Croatia, Gazprom and the authorized Croatian company Plinacro are in the process of setting up a joint project company and developing design documents for a gas branch.

 

 

 

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