The Gazprom headquarters hosted today the first meeting of South Stream Transport AG Board of Directors.

Alexey Miller, Chairman of Gazprom Management Committee, Alexander Medvedev, Deputy Chairman of Gazprom Management Committee, Paolo Scaroni, Chief Executive Officer of Eni, Henri Proglio, Chairman and CEO of EDF, Harald Schwager, Member of the Board of Executive Directors of BASF and Henning Voscherau entered the Board.

Henning Voscherau was unanimously elected as Chairman South Stream Transport AG Board of Directors.

The Board members discussed the key issues of cooperation among the South Stream project participants, in particular the budget of the project vehicle, as well as the action plan required for making the final investment decision this November.

“The offshore section of the South Stream gas pipeline is a significant link of the transboundary infrastructural project. Its implementation will contribute to further cooperation strengthening between Russia and the European Union. I am looking forward to starting Russian and European partners' activity on the pipeline construction, which undoubtedly will be well coordinated and efficient,” said Henning Voscherau.

Background

On September 16, 2011 the Shareholder Agreement of South Stream Transport AG was signed for the offshore project section implementation. Pursuant to the document, Gazprom will hold a 50 per cent stake in the offshore gas pipeline, Italian Eni – 20 per cent, German Wintershall and French EDF – 15 per cent each.

On December 30, 2011 Vladimir Putin, Prime Minister of the Russian Federation authorized Gazprom to speed up the launch of the South Stream project and to start its construction in 2012.

On January 20, 2012 Alexey Miller, Chairman of the Gazprom Management Committee approved a detailed action plan that would make it possible to start the South Stream gas pipeline construction in December 2012.

On April 12, 2012 Gazprom's foreign partners on the project vehicle finally joined South Stream Transport AG.

First pipeline gas supplies are slated for 2015.

Henning Voscherau was born in 1941 in Hamburg.

In 1968 he graduated from the University of Hamburg. He is a Doctor of Law.

From 1974 he was employed as a Notary Public in Hamburg.

Between 1974 and 1997 – Member of the Hamburg Parliament.

Between 1988 and 1997 – First Mayor of Hamburg.

Between 1990 and 1991 – President of the Upper Chamber of the German Parliament.

Between 1992 and 1997 – President of the Joint Constitutional Commission, later on – President of the Conciliation Committee of the Upper and Lower Chambers of the German Parliament.

Between 2000 and 2011 – President of the Foundation Commission, then Head of the Board of Trustees and Member of the Supervisory Board of the Bucerius Law School in Hamburg. Member of the Board of Trustees of the Ebelin and Gerd Bucerius ZEIT Foundation.