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Monday, February 02, 2009

Gazprom has funds for South Stream

BELGRAD, Jan 30, 2009 (Tanjug) - Gazprom's income in 2008 will exceed 100 billion dollars, according to preliminary assessments, and its net profit 35 billion dollars, which indicates that the Russian concern has a solid financial basis for the realisation of the South Stream gas pipeline, which could open 100,000 new jobs in Serbia, an analysis published by the Russian news agency RIA Novosti said. The South Stream will make it possible for southern and central European countries to satisfy their growing need for gas, but also bring them tangible economic benefit in the form of opening of new jobs and financial inflow from the transit of gas, said the analysis written by Russian ecomic analyst Oleg Michayev. The analysis said that the South Stream would bring Serbia two billion euros of FDIs, 200 million euros from the gas transit tax per annum and another 100 million euros for the servicing and quality control of pipeline sections.

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