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Russian Gazprom and Slovenian Geoplin to sign agreement on joint venture for South Stream gas pipeline in March

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Russia’s gas giant Gazprom plans to establish a joint venture with Slovenia’s gas transport company Geoplin Plinovodi in March 2011 to oversee construction of the Slovenian part of the South Stream pipeline project, Russia’s Communications Minister Igor Schyogolev said on Wednesday.

Schyogolev stated that Slovenia and Russia had signed an intergovernmental agreement in November 2009 on construction and exploitation of the Slovenian part of the South Stream gas pipeline.

As he added, in accordance with that document, planning, construction and exploitation will be entrusted to the future joint venture.

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“As a result of this project, Slovenia will become one of the leading transit states in the Balkans,” said Schyogolev who is also co-chairman of the Russian-Slovenian Intergovernmental Commission.

Gazprom Neft plans to sign an agreement in March with Slovenia’s Petrol on the sale of petroleum products in Slovenia and to third countries, he added.

The two countries will also create a joint venture to construct a fiber-optic cable along the South Stream, which will be used to operate the pipeline, and for commercial purposes, Schyogolev said.


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