“South Stream main priority”

CEO Dušan Bajatović said that Srbijagas’ priority in 2010 is to finish the feasibility study for the South Stream gas pipeline.

Izvor: Politika

Saturday, 16.01.2010.

16:47

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CEO Dusan Bajatovic said that Srbijagas’ priority in 2010 is to finish the feasibility study for the South Stream gas pipeline. He said that Gazprom is expected to enter the project of building the Banatski Dvor storage facility by March 31 at the latest, which will begin the second phase of construction for the underground facility. “South Stream main priority” “Whether that second phase will begin then, we will know after we see what the new conditions for building South Stream are, and how fast it will be worked on,” Bajatovic said. Bajatovic said that as far as the other jobs for this year are concerned, the priorities are to take care of the question of the property of NIS, the state and Srbijagas, to finish the conversion of the debts of Srbijagas, and to get the Azotara, MSK and Paracin glass factory working again. “These factories need to be introduced to new jobs that will pay off for them and us at least in terms of gas expenses which will be needed to begin production and which will have to be paid for,” Paracin said. He said that these companies, perspectively, will be raised through strategic partnerships. “As soon as these companies are raised to a certain level, they will look for partners, but we will go with the realistic market value of the companies, in order to charge for our shares. I do not want to make a large investment, straighten out their balance and then someone comes and buys them in exchange for a plate of pie,” he said. Bajatovic said that Srbijagas is worth three times more today than it was worth when he became CEO. “About EUR 600mn. If the project of interconnection is realized, South Stream is built, the new storage facility…it will be worth several billion,” Bajatovic said. Dusan Bajatovic (Beta archive)

“South Stream main priority”

“Whether that second phase will begin then, we will know after we see what the new conditions for building South Stream are, and how fast it will be worked on,” Bajatović said.

Bajatović said that as far as the other jobs for this year are concerned, the priorities are to take care of the question of the property of NIS, the state and Srbijagas, to finish the conversion of the debts of Srbijagas, and to get the Azotara, MSK and Paraćin glass factory working again.

“These factories need to be introduced to new jobs that will pay off for them and us at least in terms of gas expenses which will be needed to begin production and which will have to be paid for,” Paraćin said.

He said that these companies, perspectively, will be raised through strategic partnerships.

“As soon as these companies are raised to a certain level, they will look for partners, but we will go with the realistic market value of the companies, in order to charge for our shares. I do not want to make a large investment, straighten out their balance and then someone comes and buys them in exchange for a plate of pie,” he said.

Bajatović said that Srbijagas is worth three times more today than it was worth when he became CEO.

“About EUR 600mn. If the project of interconnection is realized, South Stream is built, the new storage facility…it will be worth several billion,” Bajatović said.

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