Minister: New era in ties with Russia

Energy and Mining Minister Petar Škundrić, SPS, hailed the "great energy agreement with Russia" as a new stage in the ties between the two countries.

Izvor: Tanjug

Saturday, 27.12.2008.

16:53

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Energy and Mining Minister Petar Skundric, SPS, hailed the "great energy agreement with Russia" as a new stage in the ties between the two countries. Skundric said that sale of Serbia's oil monopoly NIS to Russia's giant Gazprom earlier this week was historic. Minister: New era in ties with Russia "Now we have a huge chance to strengthen our economic, political, cultural and all other relations. Our country has no greater friend than Russia, while the European Union is our strategic interest," the minister said in an interview for Vecernje Novosti on Saturday. "The South Stream realization will make us an important link in the chain of the global gas cartel. And the first question any investor asks when they arrive in a country is, is energy available. South Stream will open the doors wide for new investments and new jobs." Asked whether the price of natural gas would go down, Skundric answered that Russian Premier Vladimir Putin said cheap gas is not to be expected in the future. "That does not mean the price of gas won't be reduced. I expect that in January it will get cheaper, in line with a formula used to establish its prices. But, clearly, gas cannot be as cheap as it used to be." Skundric also said that post-NIS sale gas preferences will be regulated with a separate contract, explaining that Serbia already has a privileged position compared to other countries, and that the pipeline project will cut transportation costs by EUR 70mn. He also mentioned "various global interests, and even political factors" that favor EU's rival Nabucco pipeline project. Asked whether Serbia was ever offered to have this pipeline constructed through her territory, Skundric said, "Never." "However," he continued, "we wouldn't have said no to that one either." Had the energy agreement with Russia fallen through, Skundric explained, profitable production of NIS would have been hard to maintain amid an economic crisis. "It would be hard for us to struggle alone with energy shortage that exists in the world. We have now tied ourselves to a country that has both oil and gas."

Minister: New era in ties with Russia

"Now we have a huge chance to strengthen our economic, political, cultural and all other relations. Our country has no greater friend than Russia, while the European Union is our strategic interest," the minister said in an interview for Večernje Novosti on Saturday.

"The South Stream realization will make us an important link in the chain of the global gas cartel. And the first question any investor asks when they arrive in a country is, is energy available. South Stream will open the doors wide for new investments and new jobs."

Asked whether the price of natural gas would go down, Škundrić answered that Russian Premier Vladimir Putin said cheap gas is not to be expected in the future.

"That does not mean the price of gas won't be reduced. I expect that in January it will get cheaper, in line with a formula used to establish its prices. But, clearly, gas cannot be as cheap as it used to be."

Škundrić also said that post-NIS sale gas preferences will be regulated with a separate contract, explaining that Serbia already has a privileged position compared to other countries, and that the pipeline project will cut transportation costs by EUR 70mn.

He also mentioned "various global interests, and even political factors" that favor EU's rival Nabucco pipeline project.

Asked whether Serbia was ever offered to have this pipeline constructed through her territory, Škundrić said, "Never."

"However," he continued, "we wouldn't have said no to that one either."

Had the energy agreement with Russia fallen through, Škundrić explained, profitable production of NIS would have been hard to maintain amid an economic crisis.

"It would be hard for us to struggle alone with energy shortage that exists in the world. We have now tied ourselves to a country that has both oil and gas."

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