Serbia, Russia strike NIS deal

A Serbian government delegation will sign the contract on the sale of NIS most likely on December 24, B92 has learned.

Izvor: B92

Monday, 22.12.2008.

13:21

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A Serbian government delegation will sign the contract on the sale of NIS most likely on December 24, B92 has learned. On the same occasion, two agreements regulating other parts of the Russo-Serbian energy deal will also be signed. They include construction of the South Stream pipeline through Serbia, and a gas storage facility in Banatski Dvor. Serbia, Russia strike NIS deal A member of a government negotiating team, Dusan Bajatovic, has confirmed that the talks have concluded. Bajatovic would not reveal any details of the contract at this time. State Secretary with the Ministry of Energy Dusan Mrakic confirmed that the documents will be signed in Moscow by presidents Boris Tadic and Dmitry Medvedev. Earlier today, daily Politika wrote that the Serbian and Russian sides reached an agreement for the sale of Serbian oil monopoly NIS to Russia's Gazprom. The daily writes that the Serbian proposal for investments in the social program has been accepted by the Russians. The report also cites unnamed sources, stating that Russian Gazpromnjeft agreed to invest EUR 500mn in NIS by 2012 regardless of the effects of the international economic crisis. The negotiations wrapped up late last night, and the Russians accepted that the social program will be a major part of the agreement to sell NIS, Politika writes. With 49 percent of NIS’s ownership, the Serbian government will have officials in the administrative and supervision councils of the company, and several managerial positions, according to Politika’s source, but no details into the positions were given. The Serbian and Russian government’s signed an agreement on January 25 in Moscow which called for the sale of 51 percent of NIS to the state-owned Russian Gazprom for EUR 400mn, the construction of the South Stream Gas Pipeline through Serbia and the modernization of the Banatski Dvor storage facility.

Serbia, Russia strike NIS deal

A member of a government negotiating team, Dušan Bajatović, has confirmed that the talks have concluded.

Bajatović would not reveal any details of the contract at this time.

State Secretary with the Ministry of Energy Dušan Mrakić confirmed that the documents will be signed in Moscow by presidents Boris Tadić and Dmitry Medvedev.

Earlier today, daily Politika wrote that the Serbian and Russian sides reached an agreement for the sale of Serbian oil monopoly NIS to Russia's Gazprom.

The daily writes that the Serbian proposal for investments in the social program has been accepted by the Russians.

The report also cites unnamed sources, stating that Russian Gazpromnjeft agreed to invest EUR 500mn in NIS by 2012 regardless of the effects of the international economic crisis.

The negotiations wrapped up late last night, and the Russians accepted that the social program will be a major part of the agreement to sell NIS, Politika writes.

With 49 percent of NIS’s ownership, the Serbian government will have officials in the administrative and supervision councils of the company, and several managerial positions, according to Politika’s source, but no details into the positions were given.

The Serbian and Russian government’s signed an agreement on January 25 in Moscow which called for the sale of 51 percent of NIS to the state-owned Russian Gazprom for EUR 400mn, the construction of the South Stream Gas Pipeline through Serbia and the modernization of the Banatski Dvor storage facility.

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