Negotiations between Serbia and Russia about NIS have eneded – proposal of investments and social program accepted

Russian and Serbian side have finished negotiations about sale of Petrol industry of Serbia, with acceptance of proposals, made by Serbia, about investments and social program, it is stated today in Politika newspapers issue (December, 22, 2008).

This Belgrade’s newspapers quoted unnamed source that the Russian “Gazprom neft” agreed to invest more than 500 millions euros in NIS by 2012, regardless of the consequences of the world financial crisis.

The negotiations were ended late last night, and the Russians accepted that the social program should be consisting part of sale contract for NIS, claims “Politika”.

The Government of Serbia will keep 49% of the ownership in NIS, and therefore it will have its representatives in the management and supervision board of the company, and certain manager’s positions will belong to the Serbian side, but “Politika”s source didn’t name precise positions.

The Government of Serbia and Russia signed on January, 25th, in Moscow, energy agreement, according to which 51% of NIS capital should be sold to the Russian state energy company “Gazprom” for 400 million euros, central gas pipeline “Southern line” should be built through Serbia, and underground gas warehouse Banatski Dvor should be finished.

This agreement also predicted contract for NIS sale by the end of this year.