Srbijagas to increase share package in Yugorosgas JV company with Gazprom, 20MEUR loan to be provided by EBRD loan

5. April 2013. / News Serbia Energy

Serbia should get cheaper gas at the end of March. Russian delegation with Aleksey Miller, President of Gasprom, arrives on in Serbia on 27 March.

The contract for gas deliveries at the price of 370-380 dollars per 1.000 cubic meters of gas should be signed this year- Dusan Bajatovic, the first man of Srbijagas, estimated for medias.

This would decrease current gas price which is 420 dollars at the moment and it is valid until 1 January. Considering that Serbia imports even 90% of gas from Russia and that we paid higher price for gas than other countries in previous years, the saving can be huge.

Industry and citizens as end customers cannot expect gas price decrease because the price for consumers is based on 350 dollars for 1.000 cubic and the mid price of 370 dollars is being expected.

“Srbijagas’ losses will be decreased, the foreign currency outflow will be lower and classification of countries according to long-term agreement will be reduced, but there are no conditions for population price to decrease because it is still 50 dollars lower than market price”, Bajatovic explains.

Buyout of 25% Jugorosgas’ shares, the daughter company of Gasprom, will be negotiated, next to negotiations about the new gas price. Bajatovic claims that Gasprom agreed to sell 25% shares to Jugoros gas and that contract proposal has already arrived in Srbijagas.
“The offer of Gasprom is fair and therefore I can’t see a reason for Serbian Government will not accept this job. Our lawyers are reconsidering this proposals at the moment and we want this to be realizes in the next couple of months”, Bajatovic says with estimation that shares package will cost up to 20 million EUR and the money for purchase will be provided by the credit Srbijagas got from EBRD.

Source Serbia Energy/Srbijagas

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