In the presence of Vladimir Putin and Silvio Berlusconi, Gazprom and Eni signed the second supplement to the Memorandum of Understanding, of June 23, 2007, on further steps to implement Project South Stream
The document envisages increasing the capacity of the marine stretch of the South Stream gas pipeline from 31 billion cubic metres a year to 63 billion cubic metres, and regulates gas marketing issues within the project framework.
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Gazprom also signed contracts with Bulgarian, Greek and Serbian gas companies in Sochi to organise the construction of the South Stream gas pipeline in those countries.
The signed documents establish partnership principles at the pre-investment project stage, and determine the terms, establishment procedure and activities of joint ventures, which every Party is establishing with Gazprom.
