Serbia: Srbijagas to obtain 30 million euros loan for gas purchases, News Serbia Energy
Director of Serbian gas company Srbijagas Dusan Bajatovic confirmed that the company will obtain a loan for the purchase of natural gas and that the tender for the provision of 30 million euros loan has already been launched.
Bajatovic explained that Srbijagas is still not financially strong enough to provide required quantities of gas without a loan. The loan will be used for the purchase of gas that will be stored in Banatski Dvor underground storage and used during winter season, when the loan will be repaid as well. He reminded that the company has no outstanding debts to its suppliers.
Srbijagas achieved profit in the amount of 141.6 million euros in 2017. Director Bajatovic stressed that this result shows how good Srbijagas operates under new conditions, adding that in the past the company operated with reduced effect of social policy, which was too expensive, but needed at that time. He also said that Srbijagas had enough funds to finance and realize most important projects related to gas distribution network.