Gazprom investing additional €300m into Serbia’s NIS

Gazprom investing additional €300m into Serbia’s NIS

Published at: 2018-07-25 12:07 | Author: CIJ Serbia
Gazprom Neft has invested around €2.5bn since taking over the majority stake in the Serbian oil and gas company Naftna Industrija Srbije (NIS) nine years ago. The Russian company is currently overseeing construction of a new deep processing facility at the Pancevo oil refinery, near Belgrade, which is set for delivery next year and is expected to strengthen NIS’s position on the Balkan energy market. A thermal power plant is also going up near the Pancevo oil refinery. The plant should be operational by 2020. The €300m project is being realized in cooperation with Gazprom Energoholding.
“When we bought NIS, it was a stagnating company with losses and no perspective. NIS is now a profitable company which contributes considerably to the budget of Serbia,” said Alexander Dybal, a member of the management board at Gazprom Neft. The Serbian government has a 30-percent stake in NIS.

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