The first meeting of the Board of Directors of South Stream Transport AG was held today in Moscow. The representatives of the shareholders acknowledged the upcoming targeted milestones of the South Stream Offshore Gas Pipeline Project.
South Stream Transport AG was established for the planning, construction, and subsequent operation of an offshore pipeline through the Black Sea. OAO Gazprom of Russia holds a 50 percent stake in the joint venture. The Italian company EniS.p.A. acquired a 20 percent stake. The French energy company EDF and the German company Wintershall Holding GmbH (BASF Group) acquired 15 percent each.
South Stream's board of directors officially appointed
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