Nikolic and Putin to Confer on Gas Pipeline

The two presidents are meeting in Russia to discuss the future of the South Stream pipeline, which will run through Serbia.For the second time since he was elected Serbian President, Tomislav Nikolic is paying a visit to Russia, where he will meet Russian President Vladimir Putin in Sochi on September 11.Although the leaders are to discuss deepening bilateral relations overall, the talks will be focus on the fuel and energy sector, including implementation of the strategic South Stream gas project, Russia’s Itar-Tass agency reports.

Russia will start working on the sector of the South Stream pipeline that runs through through Serbia on December 11.

The pipeline, which runs from Russia to Europe via the Balkans, will cost about 1.9 billion euro.

The Serbian news agency, Beta, said no new documents were expected to be signed during this meeting.

However, wn agreement on strategic partnership and other documents may be signed at a later meeting between Putin and Nikolic, due to take place soon.

On Tuesday, the two countries reached an agreement on a Russian loan worth 300 million dollars, aimed at supporting the Serbian budget. The funds should be drawn by the end of December.

Bilateral trade between Russia and Serbia was worth more than 2 billion dollars in 2011, a sharp increase of 42.5 per cent on its value in 2010.

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