October 17 (SeeNews) - Serbian gas monopoly Srbijagas expects that investment in the country's natural gas distribution system will reach 3.0 billion euro ($3.5 billion) in the next five years, local media reported on Wednesday.
Serbia plans to build a natural gas pipeline connecting the Bulgarian and Hungarian gas networks, which will represent a link to the leg from Turkish Stream gas pipeline to Bulgaria, Vecernje Novosti daily quoted the managing director of Srbijagas, Dusan Bajatovic, as saying.
The Energy Community is expected to submit its remarks and make the final decision on the project by the end of November, Bajatovic added.
In May, Serbian company Gastrans, a subsidiary of Swiss-based South Stream Serbia, said it has received non-binding bids for the import of 9.079 billion kWh per day in Serbia during the 2019-2039 period. The company received non-binding bids for the transit of a total of 5.258 kWh per day of natural gas to Hungary in 2019-2039 as part of a market test carried out in April.
Gastrans said in March it aims to start operating the natural gas pipeline as of October 2019. The pipeline linking the Bulgarian and Hungarian gas transportation systems will have a design pressure of 7.4 MPa and four exit points -- in Paracin, Pancevo and Zabalj, as well as on the border with Hungary.
Russia's Gazprom owns a 51% stake in the capital of South Stream Serbia, while Srbijagas holds the remaining 49%, according to Gazprom data.
($ = 0.864516 euro)
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