Gazprom has announced of cancellation of the agreement by South Stream

​Gazprom’s Board of Directors has approved the signing of the agreement with South Stream Transport B.V. on the termination of the validity of the surety agreement in respect of the obligations of “Gazprom export” Ltd by the gas pumping agreement as of October 2nd 2013.

South Stream Transport B.V. agreed to release Gazprom from the execution of all obligations by the surety agreement in respect of obligations of “Gazprom export” Ltd by the signing of the gas pumping agreement as of October 2nd 2013 and cancel the surety agreement, Gazprom reports.

Bulgarian newspaper “Standard” reported on a possible renewal of works by South Stream. According to the newspaper, the PM B. Borisov received a sign from Russia.

The Minister of Energy of Russia, A. Novak, said that the project of construction of South Stream has been shut down and no negotiations are held upon it.

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