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CMS Advises South Stream on Largest Infrastructure Project in Serbia

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CMS Serbia has advised South Stream on its agreements with Gazprom subsidiary Centrgaz regarding the construction of the section of the South Stream natural gas pipeline that will pass through Serbian territory.  

The South Stream is a planned gas pipeline to transport Russian natural gas through the Black Sea to Bulgaria and through Serbia, Hungary, and Slovenia, on to Austria. Construction of the Russian onshore facilities for the pipeline started in December 2012.

The agreement on the construction of the South Stream gas pipeline was signed in Belgrade on Tuesday, July 8, 2014. Gazprom subsidiary Centrgaz will be building the section passing through Serbian territory. CMS Partner Radivoje Petrikic, the head of the firm's Serbian office, describes the project as "Serbia’s largest infrastructure project." CMS also claims that, at a contract value of EUR 2.1 billion, the project amounts to the largest foreign investment in Serbia to this time.

CMS lawyers working on the deal included Petrikic, Marija Marosan, Jovana Stevovic, Ljubinka Tubic, Maja Stepanovic, and Milica Popovic.

imagesource: gazprom.com

 

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