Russians urge respect of energy deal

Russian Ambassador to Serbia Aleksandr Konuzin spoke about the strategic Russo-Serbian energy deal earlier this week. In an interview with Belgrade's Ekonomist weekly, Konuzin said that the agreement, signed in Moscow in January and recently ratified in the Serbian parliament, "must be carried out and constant ignoring of this fact results in questions about politically motivated violation of this international agreement”. Russians urge respect of energy deal The deal is determines that a part of the South Stream natural gas pipeline will be built to Serbia, while the domestic oil monopoly, NIS, will be sold to the Russian Gazpromneft. He said that the Russian side insists on the sum of EUR 400mn for a 51 percent stake of NIS, because this figure included in the Protocol on the basic conditions for purchase of NIS’s shares by Gaspromneft. “On behalf of the Serbian side it was signed by a government representative. For the first time I have to face revision of conditions of an already signed agreement. Such documents must be respected. Non-fulfillment of undertaken obligations doesn’t contribute to business reputation of a partner." "Don’t forget that the Russian side undertook an obligation to invest at least EUR 500mn in modernization of NIS. According to experts’ estimates, this figure will be much higher. I can assume that no other operator would neither be able nor willing to realize this project, which offers Serbia a role of a European energy factor,” Konuzin said. Commenting on the new evaluation of the NIS value, which Deloitte auditors recently set at EUR 2.2bn, the ambassador underlined it was not the only one. “As for the new financial evaluation of EUR 2.2bn, I can say that I am not an expert and I cannot become a rival of Deloitte & Touche, but I know that other appraisals were also made by renowned experts. I repeat that a concluded agreement must be carried out. Constant ignoring of that fact results in questions about politically motivated violation of international agreements,” he said. The ambassador also described the potential for economic cooperation between Belgrade and Moscow as huge, with strategic energy agreements, important investment programs, and large energy, infrastructure, transport and other projects. Konuzin added he hopes that realization of the existing projects will be additionally facilitated by the announced visit of Minister for Extraordinary Situations and Co-President of the Russian-Serbian Intergovernmental Committee for Trade, Economic and Scientific-Technical Cooperation Sergei Shoigu. Aleksandr Konuzin (Tanjug, archive)

Russians urge respect of energy deal

The deal is determines that a part of the South Stream natural gas pipeline will be built to Serbia, while the domestic oil monopoly, NIS, will be sold to the Russian Gazpromneft.

He said that the Russian side insists on the sum of EUR 400mn for a 51 percent stake of NIS, because this figure included in the Protocol on the basic conditions for purchase of NIS’s shares by Gaspromneft.

“On behalf of the Serbian side it was signed by a government representative. For the first time I have to face revision of conditions of an already signed agreement. Such documents must be respected. Non-fulfillment of undertaken obligations doesn’t contribute to business reputation of a partner."

"Don’t forget that the Russian side undertook an obligation to invest at least EUR 500mn in modernization of NIS. According to experts’ estimates, this figure will be much higher. I can assume that no other operator would neither be able nor willing to realize this project, which offers Serbia a role of a European energy factor,” Konuzin said.

Commenting on the new evaluation of the NIS value, which Deloitte auditors recently set at EUR 2.2bn, the ambassador underlined it was not the only one.

“As for the new financial evaluation of EUR 2.2bn, I can say that I am not an expert and I cannot become a rival of Deloitte & Touche, but I know that other appraisals were also made by renowned experts. I repeat that a concluded agreement must be carried out. Constant ignoring of that fact results in questions about politically motivated violation of international agreements,” he said.

The ambassador also described the potential for economic cooperation between Belgrade and Moscow as huge, with strategic energy agreements, important investment programs, and large energy, infrastructure, transport and other projects.

Konuzin added he hopes that realization of the existing projects will be additionally facilitated by the announced visit of Minister for Extraordinary Situations and Co-President of the Russian-Serbian Intergovernmental Committee for Trade, Economic and Scientific-Technical Cooperation Sergei Shoigu.