Srbijagas restructuring plan given “positive opinion”

BELGRADE The Energy Ministry has received positive opinions from other ministries regarding its Srbijagas restructuring plan, Energy Minister Zorana Mihajlovic says. She added that she expected the plan to be approved soon. Srbijagas restructuring plan given “positive opinion” “Srbijagas (the public natural gas company) currently has a loss of EUR 1.2bn and we need to make up for these losses and determine how they occurred, but we also need to keep the company operational,” the minister told Tanjug, stressing the government wanted to run an efficient and profitable business. “Our goal is energy security, a stable gas supply, better quality gas for our consumers, and satisfied employees,” she added. “Both Srbijagas and Transgas, which will be created in the reorganization of the existing company, will be state-owned,” stressed Mihaljovic. “Today Srbijagas’ capital is only RSD 1.5bn (around EUR 13.5mn). What will happen to the company in a year’s time if we do not reform it,” she asked. The minister recalled a lot of work will be done in the natural gas distribution sector in the coming period, referring to the South Stream gas pipeline, the Banatski Dvor storage facility, and the Nis-Dimitrovgrad pipeline. “The Ministry has completed all the necessary preparations and construction is expected to start on South Stream towards the end of the year,” she added. “Works still have not started in Serbia, not because of us, but because they were behind schedule in all other countries. As far as laws and subordinate legislation, we have prepared everything,” said the minister. She expects Serbia to receive additional quantities of gas through the South Stream in a couple of years, in 2015 or 2016. Zorana Mihajlovic (Tanjug, file) Tanjug

Srbijagas restructuring plan given “positive opinion”

“Srbijagas (the public natural gas company) currently has a loss of EUR 1.2bn and we need to make up for these losses and determine how they occurred, but we also need to keep the company operational,” the minister told Tanjug, stressing the government wanted to run an efficient and profitable business.

“Our goal is energy security, a stable gas supply, better quality gas for our consumers, and satisfied employees,” she added.

“Both Srbijagas and Transgas, which will be created in the reorganization of the existing company, will be state-owned,” stressed Mihaljović.

“Today Srbijagas’ capital is only RSD 1.5bn (around EUR 13.5mn). What will happen to the company in a year’s time if we do not reform it,” she asked.

The minister recalled a lot of work will be done in the natural gas distribution sector in the coming period, referring to the South Stream gas pipeline, the Banatski Dvor storage facility, and the Niš-Dimitrovgrad pipeline.

“The Ministry has completed all the necessary preparations and construction is expected to start on South Stream towards the end of the year,” she added.

“Works still have not started in Serbia, not because of us, but because they were behind schedule in all other countries. As far as laws and subordinate legislation, we have prepared everything,” said the minister.

She expects Serbia to receive additional quantities of gas through the South Stream in a couple of years, in 2015 or 2016.