Srbijagas and Gazprom signed contract for Banatski Dvor

Public company Srbijagas and Russian Gazprom signed the contract today (February 5, 2010) on formation of joint venture for underground gas storage Banatski Dvor.

CEO of Srbijagas, Dušan Bajatović, said to the press that all activities concerning the completion of takeover of new ownership structure would be finished prior to March 31st.

Gazprom will own 51% of the joint venture, while 49% of capital will be in the possession of Srbijagas, which is in accordance with the agreement signed between these two companies on the occasion of the visit of Russian President Dmitrij Medvedev to Serbia in October 2009.

Bajatović said that Srbijagas' investments amounted to 23m EUR, while Russians would be obliged to provide 300m cubic meters of gas for the gas storage and invest in installation of gas compressor and remaining technical details.