16 September 2011

New Shareholders from Germany and France join South Stream

Under the framework of International investment forum Sochi - 2011 in the presence of Prime Minister of the Russian Federation Vladimir Putin on September 16 was signed Shareholders’ Agreement on offshore section of the South Stream project.

The document was signed by Alexey Miller, Chairman of Gazprom’s Management Committee, Paolo Scaroni, Chief executive officer of ENI, Harald Schwager, Member of the Board of Executive Directors of BASF SE, and Henri Proglio, Chairman and CEO of EDF. As a result, offshore section participation shares of the South Stream project are now split in the following way: Gazprom – 50 per cent, ENI – 20 per cent, Wintershall Holding and EDF – 15 per cent each.

«The participation of two new shareholders from Germany and France in the South Stream project highlights, that EU countries admit its timeliness and necessity. « It will not only create an additional route for secure and uninterrupted supplies of Russian gas to Europe, but also will boost economic development of Central and Southeast Europe», – Alexey Miller said.

Full text is available at OAO Gazprom site

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