Russian gas giant Gazprom will not grant 10% of its shares in the South Stream gas pipeline project to France's Electricite de France (EdF), Gazprom's CEO Alexei Miller said on Saturday.
Earlier on Saturday it was reported that Russia's Gazprom and Italy's Eni would each give Edf 10% of their shares, or 20% of the South Stream gas pipeline project.
"That is not being considered," Miller answered in response to a question by a journalist at the International Economic Forum in St. Petersburg.
Gazprom, Eni, and EdF signed a memorandum of understanding, bringing the French company into the South Stream gas pipeline.
The document was signed on Saturday at the International Economic Forum in St. Petersburg in the presence of Russian President Dmitry Medvedev and French President Nicolas Sarkozy.
Miller said the finalization of the contract for France entering into the South Stream gas pipeline could possibly be "by the end of the year."
South Stream, with an estimated price tag of 25 million euros, will connect Russia and the EU across the Black Sea and the Balkans, bypassing Ukraine.
Gazprom said last week it was ready to start South Stream's construction in 2013 and should begin pumping gas to Europe by 2015.
ST. PETERSBURG, June 19 (RIA Novosti)
