February 22 (SeeNews) - Serbia's government said on Wednesday it plans to maintain its strategic partnership with Russia's Gazprom Neft.
Serbia plans to cooperate with Gazprom Neft in the development of oil and gas company NIS [BEL:NIIS] and in this way to support the growth of the country's energy sector, prime minister Aleksandar Vucic said during a meeting with the CEO of the Russian company, Alexander Dyukov, according to a statement issued by the government's press office.
Vucic and Dyukov discussed the support of Gazprom Neft in the supply of raw materials to Serbia and the development of state-оwned petrochemicals producer HIP Petrohemija and chemicals group MSK Kikinda.
The expansion of the network of filling stations of NIS across Serbia, as well as the development of renewable energy production were also discussed, the government added.
Gazprom Neft owns 56.15 % of the share capital of NIS, the biggest Serbian energy company. NIS, with a stock market capitalisation of 122.3 billion dinars ($1.04 billion/987 million euro), is a member of the blue-chip index of the Belgrade bourse, BELEX15, and the performance of the index is strongly influenced by the movements in the company's share price.
In January, Vucic discussed potential investments in the country with Vagit Alekperov, the president of another Russian energy major, Lukoil.
Serbia's parliament passed a law in December for the restructuring of 254 million euro of debt of HIP Petrohemija owed to NIS. A total of 78 million euro was converted into capital owned by NIS, which held a 12.72% stake in HIP Petrohemija before the transaction.
Back then, the government agreed to repay 15 million euro of the 40 million euro debt owed by HIP Petrohemija to Lukoil. The Russian company, in turn, agreed to write off one-third of the liabilities.
(1 euro = 123.909 dinars)
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