B92: Insider - South Stream in Serbia to be built by offshore firm

The construction of South Stream gas pipeline in Serbia has been announced as the “business of the century” by the Serbian authorities for the past three years.

Serbia should have revenues worth between EUR 200mn and EUR 500mn from transit fees.

However, B92’s investigative program Insider has learned that there is a possibility that the money from the fees will first go to Switzerland because a joint Serbian-Russian company that should build the pipeline in Serbia is registered in an offshore zone in the Swiss town of Zug.

This means that the Serbian government will not have a direct control over the company’s profit.   MORE