Decision about investments in "Južni tok" at the end of year - "Gazprom" and Austria negotiate about participation in construction of gas pipeline

The Deputy President of Administration of “Gazprom”, Aleksandar Medvedev, said that the negotiations with Austria about participation in construction of gas pipeline “Južni tok” were underway, that the decision about investments should be made at the end of the year, and that the gas pipeline would be put in operation in 2013 or 2014.

He said that that Russian company had designed projects for construction of gas storage in Hungary, Serbia, Germany, Netherlands and Great Britain, and he announced that the gas storage of that company in Haidaho, Austria, would be expanded and transformed into the second largest gas storage in central Europe.

As far as project "Nabuko" is concerned, Medvedev said in the interview for Viennese daily newspaper "Kurir" that project did not represent competition.

- We know that Europe needs gas. The question is only where the gas for “Nabuko“ will be provided. We have both gas and know-how for construction of gas pipeline, as well as long-term delivery agreements with our customers. Therefore, we are going to build gas pipeline ‘Juzni tok‘ in association with our partners from Italy, Bulgaria and Serbia - said Medvedev.