Serbia: Good operational results of Srbijagas in the first quarter

23. May 2016. / News Serbia Energy

Srbijagas achieved profit in the amount of 38.2 million euros in the first three months of 2016.

General Director of Srbijagas Dusan Bajatovic issued a statement in which he stated that the company has finished the first quarter of 2016 with good operational results.

According to the statement, Srbijagas achieved profit in the amount of 38.2 million euros in the first three months of 2016. It was pointed out that increased gas production contributed greatly to good operational results in the first quarter, although the price of gas was reduced. Compared to the same period in 2015, natural gas consumption rose by 5.4 % and reached 725 million cubic meters.

Among other things, the statement pointed out that there has been a cost optimization due to better usage of underground gas storage Banatski Dvor, so the average cost decreased from 35.3 to 33.1 dollars, or by 6.4 % per 1,000 cubic meters of gas, transmits Serbia-energy.eu

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