Serbia Agrees Multi-Billion Dollar Pipeline

The Serbian Government has agreed a multi-billion dollar pipeline project as part of an energy deal with Russia that would boost Moscow's control over supplies to Europe, writes Dow Jones.

As part of the deal, the Serbian oil monopoly NIS will be sold to Russian energy giant OAO Gazprom (GAZP.RS), with Russia routing part of the South Stream gas pipeline through Serbia.

The financial terms and date of the deal were not disclosed.

By staff writer