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South Stream Pipeline Construction To Start In Serbia

Serbian Prime Minister Ivica Dacic (right) meets with Aleksei Miller of Gasprom in Belgrade on November 11.
The Serbian government says construction of the Serbian section of Russia's South Stream natural-gas pipeline is to start on November 24.

The announcement came after a meeting between Serbian Prime Minister Ivica Dacic and Aleksei Miller, the CEO of Russia's state gas company, Gazprom, in Belgrade on November 11.

The South Stream pipeline will run under the Black Sea to Bulgaria, Serbia, and Hungary before branching out to Western Europe.

Gazprom announced in October 2012 that it had signed a deal with Serbia to construct the 415-kilometer-long section of the pipeline, worth some 1.7 billion euros ($2.3 billion).

It is one of the biggest investments in Serbia in recent decades. It will make the country an important regional energy center and will also secure it a steady gas supply.

Based on reporting by AFP and Beta