"Welding the Partnership": South Stream Gas Pipeline Moves Ahead

       "Welding the Partnership": South Stream Gas Pipeline Moves Ahead

  PR Newswire

  ANAPA, Russia, December 7, 2012

ANAPA, Russia, December 7, 2012 /PRNewswire/ --

Russian President Vladimir Putin marks the start of the South Stream Project
at celebrations in Anapa

Russian President Vladimir Putin marked the start of the South Stream Project
today, through a symbolic welding ceremony during celebrations near Anapa, on
the Russian coast of the Black Sea.

 (Photo: http://photos.prnewswire.com/prnh/20121207/582377 )

The event, named "South Stream - Welding the Partnership", celebrates the
Russian-European cooperation that forms the foundation of the Project and
marks the start of its implementation. In the past months, the most
significant arrangements for both the offshore and onshore sections were
concluded, such as the Final Investment Decision (FID) taken in November 2012
and the set-up of joint ventures for each section of the Project.

Russian President Vladimir Putin said that the occasion marked a truly
important event for both Russia and Europe and he thanked and congratulated
the partners involved in the South Stream Project. He noted that the pipeline
will be built in accordance with strict environmental standards.

Attendees also included Russian Minister of Energy Alexander Novak, Turkish
Minister of Energy and Natural Resources Taner Yıldız, Bulgarian Minister of
Regional Development and Public Works Lilyana Pavlova Nikolova, Hungarian
Minister of National Development Zsuzsa Németh, Serbian Minister of Energy,
Development and Environmental Protection Zorana Mihajlović, Slovenian Minister
of Infrastructure and Spatial Planning Zvonko Černač and Macedonian Deputy
Prime Minister and Minister of Finance Zoran Stavreski. Other high-level
officials and ambassadors from the countries involved in the South Stream
Project were also present.

First Gas in 2015

The CEO of South Stream Transport B.V. Marcel Kramer underlined the merit of
the cooperation: "Last month, our Shareholders agreed to take the Final
Investment Decision for the South Stream Offshore Pipeline, confirming our
objective to transport the first gas by late 2015. During times of economic
uncertainty, this is a significant investment in reliable supplies of clean
energy and in the European economy. To bring new energy into Europe in every
sense of the word."

Alexey Miller, Chairman of the Gazprom Management Committee, said: "The
start-up of South Stream construction - is indeed a historical event. The
project embodies the intention of Russia and the countries of Southern and
Central Europe to strengthen the partnership in the energy sector and to
create a new reliable system of Russian gas supplies to European consumers.
South Stream is a comprehensive infrastructure project that will provide a
powerful impetus to economies of participating countries."

The South Stream Pipeline Project consists of several sections, spanning over
2,300 kilometers in total. It will transport natural gas directly from Russia
to countries in Central and South-Eastern Europe. The 925-kilometre offshore
section will start on the Russian Black Sea shore in the area of Anapa, cross
the Turkish Exclusive Economic Zone in the Black Sea and land on the Bulgarian
coast near Varna.

Contact:

Sebastian Sass , Head of Communications & Spokesperson, South Stream Transport
E-mail:  media@south-stream-transport.com Phone: +41(41)769-23-66

For further information, please visit: http://www.south-stream-offshore.com .
 
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