"Energy deal best project in decades"

Petar Skundric says the Russian energy deal is one of the best strategic projects in Serbia in the last 30 years. At a meeting with miners to mark August 6, Miners’ Day, the mining and energy minister said that energy agreement with Russia was a chance that needed to be exploited, as not only would the agreement ensure Serbiacs energy security, but would also make it attractive to investors. "Energy deal best project in decades" “The state won’t sell off the Serbian Oil Industry (NIS) as a whole, but will retain a controlling packet of shares regardless of whether the Russian partner has two percent more shares,” said the minister. The energy agreement between Serbia and Russia signed on January 25 stipulates the construction of the South Stream pipeline through Serbia, the sale of a 51 percent holding in NIS to Russian Gazprom for EUR 400mn, as well as a further EUR 500mn investment to modernize the company. Petar Skundric (Tanjug)

"Energy deal best project in decades"

“The state won’t sell off the Serbian Oil Industry (NIS) as a whole, but will retain a controlling packet of shares regardless of whether the Russian partner has two percent more shares,” said the minister.

The energy agreement between Serbia and Russia signed on January 25 stipulates the construction of the South Stream pipeline through Serbia, the sale of a 51 percent holding in NIS to Russian Gazprom for EUR 400mn, as well as a further EUR 500mn investment to modernize the company.