Serbia, Bosnia and Herzegovina prioritized South Stream on Tuesday, RTRS reports.
The government approves signing of a memorandum of understanding between Serbian President Milorad Dodik and Gazprom, Minister for Industry and Energy Jelko Kovacevic said. Dodik and Russian Energy Minister Sergey Shmatko signed a declaration of cooperation in September 2010 for realization of South Stream.
Dodik met Gazprom authorities at the Saint-Petersburg Economic Forum last week. He met Russian Ambassador to Bosnia and Herzegovina Alexander Botsan-Kharchenko in Banja Luka. China will invest a billion euro in the project.
The gas pipeline will run through the Black Sea to Southern and Central Europe. It is realized with Bulgaria, Serbia, Hungary, Greece, Slovenia, Croatia and Austria.
Gazprom holds 50% of shares in the project, ENI (Italy) holds 20%, Wintershall Holding (Germany) and EDF (France) hold 15% each.
