Daily: Russians achieved all goals
It has been agreed as part of the contract for the sale of NIS that Serbia’s liability for any ecological damage will be 25% of the sale price, writes Blic.
Tuesday, 23.12.2008.
15:01
It has been agreed as part of the contract for the sale of NIS that Serbia’s liability for any ecological damage will be 25% of the sale price, writes Blic. Experts believe that no major headway was made in the talks and that the Russian side achieved its goals, writes the daily. Daily: Russians achieved all goals Nor is there any mention of the guarantees for the construction of the South Stream pipeline and the Banatski Dvor reservoir. The only guarantee for those jobs will be the presence of the two countries’ presidents at the signing ceremony, writes Blic. As far as the sale of the Serbian Oil Industry (NIS) is concerned there have been four unresolved issue thus far: the form and dynamic of the investment; NIS’s monopoly; ecological standards, and the pension plan. Under the new agreement, Gazprom has given corporate guarantees that the entire EUR 550mn will be invested by 2012 or risking forfeiting the agreement, Blic understands from a source close to the negotiating team. The head of the Serbian negotiating team, Borislav Stefanovic, said that a loan of EUR 500mn would be taken out to cover NIS’s needs, which will be underwritten not by NIS, as the Russians had wanted, but by Gazprom, at the most attractive market conditions. Gazprom has also agreed for the Serbian oil company’s monopoly to end no later than the end of 2010. Nonetheless, the biggest success is perceived to be the agreement over the pension plan, whereby no workers can be dismissed until the end of 2012. NIS Trade Union Vice-President Veljko Zunic said that the members of the Serbian negotiating team had confirmed to the union that Gazprom had agreed to the pension plan in its entirety.
Daily: Russians achieved all goals
Nor is there any mention of the guarantees for the construction of the South Stream pipeline and the Banatski Dvor reservoir. The only guarantee for those jobs will be the presence of the two countries’ presidents at the signing ceremony, writes Blic.As far as the sale of the Serbian Oil Industry (NIS) is concerned there have been four unresolved issue thus far: the form and dynamic of the investment; NIS’s monopoly; ecological standards, and the pension plan.
Under the new agreement, Gazprom has given corporate guarantees that the entire EUR 550mn will be invested by 2012 or risking forfeiting the agreement, Blic understands from a source close to the negotiating team.
The head of the Serbian negotiating team, Borislav Stefanović, said that a loan of EUR 500mn would be taken out to cover NIS’s needs, which will be underwritten not by NIS, as the Russians had wanted, but by Gazprom, at the most attractive market conditions.
Gazprom has also agreed for the Serbian oil company’s monopoly to end no later than the end of 2010.
Nonetheless, the biggest success is perceived to be the agreement over the pension plan, whereby no workers can be dismissed until the end of 2012.
NIS Trade Union Vice-President Veljko Žunić said that the members of the Serbian negotiating team had confirmed to the union that Gazprom had agreed to the pension plan in its entirety.
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