“Political will creates gas prices”

Srbijagas CEO Dušan Bajatović said that an increase in gas prices would be economically justifiable, but that it depends on the political will of the state.

Izvor: Tanjug

Sunday, 05.09.2010.

15:31

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Srbijagas CEO Dusan Bajatovic said that an increase in gas prices would be economically justifiable, but that it depends on the political will of the state. “It is clear that the price of gas must increase, but there does not have to be an increase in prices,” he explained to daily Dnevnik. “Political will creates gas prices” He said if there is no increase in gas prices “someone will have to pay” the difference in price and secure the money for paying the Russian suppliers of the gas. The government, which approves prices, must decide what it will do, Bajatovic said, adding that if there is no price increase, gas will cost less than the market value for three straight years now, which will have further negative effects on the business of Srbijagas. “We can send a demand as soon as tomorrow for a change in gas prices to the Energy Agency, but whether the increase in price will be approved depends on whether the political will for its exists,” he said. He said that the import price of gas will not change much by the end of the year in dollars, which means that it will stay at the level of about USD 350 for 1,000 cubic meters, without the cost of transport. However, the decrease in the value of the dinar this year has increased this price by 28 percent, Bajatovic said, adding that it has had a negative effect on Srbijagas and the great debt that the company is in. Belgrade power plants own about RSD 7bn, and the others owe about RSD 2bn, he said, adding that Srbijagas is constantly paying what it owes to the Russian suppliers by taking out loans, which is hurting the company. Bajatovic said that citizensdo not have to worry about not having heat in the coming winter season, because contracts have secured regular supplies of gas for the Serbian market, adding that there is also enough gas in the reserves Serbia has in Banatski Dvor.

“Political will creates gas prices”

He said if there is no increase in gas prices “someone will have to pay” the difference in price and secure the money for paying the Russian suppliers of the gas.

The government, which approves prices, must decide what it will do, Bajatović said, adding that if there is no price increase, gas will cost less than the market value for three straight years now, which will have further negative effects on the business of Srbijagas.

“We can send a demand as soon as tomorrow for a change in gas prices to the Energy Agency, but whether the increase in price will be approved depends on whether the political will for its exists,” he said.

He said that the import price of gas will not change much by the end of the year in dollars, which means that it will stay at the level of about USD 350 for 1,000 cubic meters, without the cost of transport.

However, the decrease in the value of the dinar this year has increased this price by 28 percent, Bajatović said, adding that it has had a negative effect on Srbijagas and the great debt that the company is in.

Belgrade power plants own about RSD 7bn, and the others owe about RSD 2bn, he said, adding that Srbijagas is constantly paying what it owes to the Russian suppliers by taking out loans, which is hurting the company.

Bajatović said that citizensdo not have to worry about not having heat in the coming winter season, because contracts have secured regular supplies of gas for the Serbian market, adding that there is also enough gas in the reserves Serbia has in Banatski Dvor.

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