Contract of sale of 51% of the Petrol industry of Serbia to the Russians for 400 million euros has been initialed

Contract of sale of 51% of the Petrol industry of Serbia (NIS) to the Russians for 400 million euros has been initialed on December, 22, 2008, as it was stated by a member of the Serbian negotiating team for realization of the energy agreement with Russia, Dusan Bajatovic.

He adressed the press in the Parliament of Serbia, and said that the contract of NIS sale had been initialed according interstate agreement of Serbia and Russia.

The final decision about the Contract of NIS sale and earlier initialed agreements about gas pipeline Southern line and gas warehouse "Banatski dvor" will be given by the Government of Serbia.

Bajatovic stressed out that only after confirmation of the Government of Serbia, it would be possible to sign all three documents - basic contract for NIS sale, basic contract which will determine how, until when and in what manner would be financed and built the gas pipeline in Serbia and basic contract about founding joint company for underground gas warehouse Banatski dvor.

He said that there will be in NIS a satisfying level of investment, of at least 550 million euros, based on the proposal given by the Serbian side, which was finally accepted by the Russians.

Bajatovic also added that after 2010 NIS would not be holding a monopoly anymore, and that ecological standards would be according Serbia's laws.

Beta agency got today a confirmation from Serbian and Russian sources in Moscow that the documents from Serbian-Russain energy agreement should be signed on December, 24, in Moscow, and that the details about arrival of high Serbian delegation were still being prepared.

State secretary of the Ministry of energy sector of Serbia, Dusan Mrakic gave statement to Beta agenct that all documents from the energy agreement would be signed by the end of this week at the highest state level.

- The documents will be signed by the President of Serbia, Boris Tadic and President of Russia, Dimitrij Medvedev, in Moscow, said Mrakic.