EDF Signs On To Join South Stream Project

EDF CEO Henri Proglio has signed a Memorandum of Understanding about participating in the construction of the offshore section of the South Stream pipeline.

Details of EDF’s participation will be worked out with ENI, which owns 50% of South Stream AG, the operator of the offshore section of South Stream.

“We are gaining a new reliable and long-term partner in EDF. This underscores the pan-European scale of the pipeline and is additional evidence of its tremendous importance for ensuring stable energy supplies to the continent,” said Gazprom CEO Alexei Miller.