“No changes to Russian energy deal”
A Gazpromneft official says that the energy agreement between Russia and Serbia will not see any changes.
Wednesday, 30.07.2008.
16:44
A Gazpromneft official says that the energy agreement between Russia and Serbia will not see any changes. Chief adviser to Gazpromneft’s CEO Dmitry Malishev told Belgrade daily Biznis that it is impossible to change an international agreement such as this one, and added that the Serbian and Russian sides can only confirm details of the draft in the coming negotiations regarding the sale of the Serbian oil monopoly, NIS. “No changes to Russian energy deal” The agreement, signed in Moscow on Jan. 25, includes the sale of the company, and construction of a part of South Stream pipeline through Serbia. Malishev told the newspaper that the protocol for buying the oil company is part of the energy agreement, which is obligatory and cannot be altered. He stated that he expects Serbian parliament to ratify the deal very soon, "because Serbia is only losing money and time with every day that this is being postponed, since NIS must be modernized by 2010, when it will enter the European market". The agreed price for the purchase of a 51 percent stake in NIS, EUR 400mn, with investments of at least EUR 500mn, is fair, according to the Russian official. “That price was determined based on estimates which were made by financial experts on both sides and independent ones. We did not only agree to buy 51 percent of NIS, we also took on all the risks of the company and guaranteed investments of at least EUR 500mn in a full reconstruction,” Malishev said.
“No changes to Russian energy deal”
The agreement, signed in Moscow on Jan. 25, includes the sale of the company, and construction of a part of South Stream pipeline through Serbia.Malishev told the newspaper that the protocol for buying the oil company is part of the energy agreement, which is obligatory and cannot be altered.
He stated that he expects Serbian parliament to ratify the deal very soon, "because Serbia is only losing money and time with every day that this is being postponed, since NIS must be modernized by 2010, when it will enter the European market".
The agreed price for the purchase of a 51 percent stake in NIS, EUR 400mn, with investments of at least EUR 500mn, is fair, according to the Russian official.
“That price was determined based on estimates which were made by financial experts on both sides and independent ones. We did not only agree to buy 51 percent of NIS, we also took on all the risks of the company and guaranteed investments of at least EUR 500mn in a full reconstruction,” Malishev said.
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