South Stream will not stop


 Photo source:earthimportexport.com

Today at the International Investment Forum Sochi — 2011 was signed the Shareholders' Agreement of the offshore section of the project "South Stream".

The document signed by the Chairman of the Management Board of OAO "Gazprom" Alexey Miller, General Manager of ENI, Paolo Scaroni, a member of the Board of Executive Directors of BASF SE Harald Schwager, President and Chief Executive Officer of EDF Henri Proglio.

In accordance with the Agreement, the German company Wintershall Holding and French EDF received 15% strength in the share of the offshore section of the project "South Stream" by reducing the share ENI 30%.


 Photo source:gazprom.ru

As a result, interest in the offshore section of the project "South Stream" as follows: OAO "Gazprom" — 50%, ENI — 20%, Wintershall Holding and EDF — 15%.

"In the" South Stream "includes two new shareholders from Germany and France. Joining a project of major European energy companies is a clear indication of the recognition of the EU and the need for its timeliness. Without a doubt, the "South Stream" will not only create an additional route of safe and uninterrupted supplies of Russian gas to Europe, but will give a powerful impetus to the economic development of the countries of Central and South-Eastern Europe "- said Alexey Miller.

"Together with" Gazprom "and other European partners, we have demonstrated on the example of transbaltiyskoy gas pipeline" Nord Stream "how can we strengthen the security of gas supply. And now we have joined forces to strengthen security of supply of the EU countries, which are located in the south-east of Europe and that "Gazprom" and Wintershall have cooperated for many years in the trade in natural gas, "- said Harald Schwager.

"The company ENI has long been a partner of Russia and" Gazprom ". She has extensive experience in the gas industry, already having experience of working with "Gazprom" on the pipeline "Blue Stream". The entry of two other European companies in the project "South Stream" was another step in the consolidation of the partnership between Europe and Russia, "- said Paolo Scaroni.

"The signing of the Shareholders Agreement has become a cornerstone in the project" South Stream ", which fully receive all the benefits of close cooperation with the four major global players in the field of energy, which are the" Gazprom ", ENI, Wintershall and EDF. We are working together to ensure the success of the project, which will play its role in meeting the growing needs of Europe's gas, "- said Henri Proglio.

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