Gazprom wants bigger stake in pipeline company in Serbia

The board of directors of Russia's energy giant Gazprom will consider buying an additional stake in the company Juzni Tok Srbija (South Stream Serbia) AG.

This will happen on February 13, Gazprom has announced, according to TASS.

The joint project company South Stream Serbia AG (51 percent owned by Gazprom, and 49 percent by Serbia) was established by Serbia and Russia in order to build the now abandoned South Stream gas pipeline, that was designed to diversify the supply of Russian gas to Europe, TASS said.

As Russia canceled South Stream, it announced a new project - Turkish Stream, and Serbia wants to receive Russian gas in future via this route. In December 2017, President Vladimir Putin said that Moscow and Belgrade were working on the possibility of connecting Serbia with the pipeline, the construction of which begun in May 2017.

First gas deliveries...