Source: Beta | Thursday, 11.06.2009.| 13:38
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"Srbijagas" to take over "Gas promet" from Pale

Novi Sad-based company "Srbijagas" will soon take over company "Gas promet" from Pale, and people in Republic of Srpska expect that that procurement wil create preconditions for connection of that part of Bosnia and Herzegovina to the future branch of gas pipeline Južni Tok.

The process of takeover of "Gas promet" will be initiated by the memorandum of understanding and the way in which ownership relations between the two companies will be resolved, which will be signed soon in Belgrade.

According to that agreement, "Srbijagas" will obtain 40% of stocks of "Gas promet", out of existing 65% owned by RS, through the conversion of its claims. REmaining 25% of stocks will be kept by the Government of RS, while the rest will be in posession of public and investment funds, as well as minor stockholders of the Pale-based company.

According to the plan, the company from Novi Sad will get the major share of ownership of 22-kilometer-long gas pipeline from Gornji Šepak to Karakaj, near Zvornik, which may be connected to the branch of gas pipeline Južni Tok that goes from Russia to Western Europe via Serbia.

People in the Ministry of Industry, Energy and Mining of RS were unable to confirm the information on takeover, but they said that the Government had made the decision about signing of the memorandum of understanding and resolution of ownership issues between companies "Srbijagas" and "Gas promet".

The plan is that aforementioned memorandum be signed next week in Belgrade.

Company "Gas promet" was founded in 1998 on the property of NIS' pre-war gas pipeline, as a strategic company with 65% of state-owned capital.

Milomir Draganić, the CEO of "Gas promet", finds the entrance of NIS, that is, "Srbijagas", in the ownership structure of that company very important because it will give RS undisturbed access to gas storage in Banatski Dvor.

- The largest "player" in gas sector in the region will become our partner, and that will, finally, resolve the problems of shortage and procurement of gas - said Draganić who reminded that Bosnia and Herzegovina was the only country in the region that had no gas storage capacities.

In addition to undisturbed access to the gas storage in Banatski Dvor, the Government of RS has also been promised that company "Srbijagas" will expand the gas network in RS, which currently covers only Zvornik and East Sarajevo.

"Srbijagas" and Russian "Gazprom", the majority owner of NIS, will form joint venture for construction of gas pipeline Južni Tok through Serbia by the end of June 2009.

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