Russia’s Gazprom and Serbia’s Sasa llic signed an agreement on February 25, to develop the Serbian stretch of the South Stream pipeline by forming a joint company. The details of the pipeline will be hammered out over the next eighteen months. Gazprom spokesmen said that three months will be allocated for the creation of the company, another eighteen months for the feasibility study and construction would start 24 months after the feasibility study. The South Stream pipeline - a 10 billion Euro project led by Gazprom and Italy’s Eni is designed to carry Siberian Gas to Western Europe1.

• 1. “Russia, Serbia sign a gas pipeline deal,” China View, February 25, 2008, at http://news.xinhuanet.com/english/2008-02/25/content_7669074.htm