Plan for Srbijagas to be adopted at next government session

BELGRADE - Serbian Energy Minister Aleksandar Antic announced on Monday that the government should adopt the plan for restructuring of public enterprise Srbijagas at the next session.

Addressing MPs in the parliament building, Antic explained that the plan defines Srbijagas as a vertically integrated company with separate ownership for different energy areas, which will make room for more efficient Srbijagas functioning.

The 2015 budget does not include guarantees for additional loans taken out by Srbijagas for payment of natural gas deliveries, Antic said.

At the same time, we are finalising the plan of financial stabilisation for (public enterprise) Electric Power Industry of Serbia (EPS) together with the International Monetary Fund through the World Bank and the European Bank for Reconstruction and Development, as well as the plan of financial consolidation for Srbijagas, which should define the principles to establish new manners of operation in the companies, Antic said and recalled that the government already adopted the programme for EPS reorganisation.

Antic said that companies unable to pay their outstanding debts will not receive gas deliveries in 2015, and added that the government is working to ensure a model of sustainable functioning for companies in the chemical complex that are facing such circumstances.

We are very close to the model of gas supply for the chemical complex which will allow it to keep operating but no longer at the expense of Srbijagas, Antic said.

In the agreement with the Petroleum Industry of Serbia for 2015 and 2016, the government managed to ensure 50 million cubic metres of gas each from local gas sites for Petrohemija public enterprise at the price of USD 280...