( Interfax ) - South Stream, a proposed pipeline to carry gas from Russia to Italy, is planned to go in operation in 2013, the chief executive of Russian natural gas monopoly Gazprom said on Friday.
"It is an important project for Russia and Bulgaria, for cooperation between Russia and the European Union. Today we have signed an intergovernmental agreement on the implementation of the project, and today a joint company has been registered in Switzerland that has been instituted by Gazprom and the Eni company," Alexei Miller said.
Gazprom and Eni, an Italian oil and gas company, will hold equal stakes in the joint venture, he said.
"The purpose of our company is to make a feasibility study and carry out marketing research. And we plan to complete this feasibility study in 2008, and the project itself will be put into operation in 2013," Miller said.