Gazprom set to make NIS payment

Russia's Gazpromneft will pay EUR 400mn for the 51 percent of Serbia's NIS by the end of this week. The Ministry of Mining and Energy today confirmed this for B92. Gazpromneft is the oil arm of Russia's state-owned oil and gas giant Gazprom. Gazprom set to make NIS payment Serbia sold its oil monopoly NIS late last year as part of a broader energy deal, that will see the Russians build the South Stream pipeline and a natural gas storage facility in Serbia. The deadline for Gazprom to make the payment was set at five days after a decision that must be passed by the Competition Commission. On Jan. 22, the commission said that it has no jurisdiction in the matter, since the sale of NIS came as part of the inter-state agreement. Director Dijana Markovic-Bajalovic, however, explained for B92 that this statement from the commission she heads can be considered as a positive decision. The clarification came after Finance Minister Diana Dragutinovic said on Monday that the Russians would make the payment "in the second half of this year".

Gazprom set to make NIS payment

Serbia sold its oil monopoly NIS late last year as part of a broader energy deal, that will see the Russians build the South Stream pipeline and a natural gas storage facility in Serbia.

The deadline for Gazprom to make the payment was set at five days after a decision that must be passed by the Competition Commission. On Jan. 22, the commission said that it has no jurisdiction in the matter, since the sale of NIS came as part of the inter-state agreement.

Director Dijana Marković-Bajalović, however, explained for B92 that this statement from the commission she heads can be considered as a positive decision.

The clarification came after Finance Minister Diana Dragutinović said on Monday that the Russians would make the payment "in the second half of this year".