ZAGREB (Croatia), January 15 (SeeNews) - Croatian state-owned oil pipeline operator Jadranski Naftovod [ZSE:JNAF-R-A] said on Friday it has signed an agreement to transport crude oil for Serbian oil and gas company NIS [BEL:NIIS] in 2021.

Janaf will transport for NIS around 2.75 million tonnes of crude oil this year, plus or minus 10%, under a take-or-pay contract, it said in a filing to the Zagreb bourse.

A take-or-pay clause is an agreement where the buyer agrees to pay the contract price even if it does not take delivery of the agreed quantities. 

The value of the deal was not disclosed.

Janaf controls oil terminals on the island of Krk, as well as in Sisak, Virje, Slavonski Brod and Zitnjak, and operates 631 kilometres of pipelines. It has 1.94 million cubic metres of storage capacity for oil and 222,000 cu m for the storage of petroleum products.

The company's shares last traded on the Zagreb bourse on January 8, closing flat at 4,300 kuna ($690.3/569.4 euro). 

(1 euro = 7.55155 kuna)