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Russia, Serbia Sign Final Agreement On South Stream Pipeline

The South Stream pipeline should bring billions of cubic meters of Russian gas into Europe. (file photo)
Russia's state-owned gas giant Gazprom and Serbia have signed the final investment agreement on the South Stream gas pipeline.

Gazprom announced the October 29 signing with its partner in Serbia – Srbijagas -- in a statement on the Russian company's website.

Srbijagas director-general Dusan Bajatovic said the deal clears the way for the construction of the pipeline to start on Serbian territory.

Bajatovic said Serbia should earn some 200 million euros annually from the project.

South Stream aims to bring some 63 billion cubic meters of Russian gas across the Black Sea into Europe.

With reporting by ITAR-TASS