Gazprom transfers NIS money

Russia's Gazpromneft has transfered the money for its acquisition of Serbia's NIS to its own account in a Belgrade bank.

Source: B92, Tanjug

Energy Minister Petar Škundrić told Tanjug news agency on Saturday that the transfer from that account to Serbia's budget will be "finalized on Monday".

He also explained that a delay in the payment came as the Treasury "made sure that the banking costs of the transfer were minimal".

Gazprom's oil operation Gazpromneft bought 51 percent of Serbia's oil monopoly NIS with a contract signed in Moscow on Dec. 24 last year.

NIS was sold for EUR 400mn, while Gazprom is obligated to invest a further EUR 547mn in the company.

The NIS sale came as part of a broader Russo-Serbian energy deal, that will see a branch of Russia's South Stream natural gas pipeline and a gas storage facility built in Serbia.

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Business & Economy Friday, January 30, 2009 10:06 Comments: 1
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