Srbijagas and Gazprom sign contract for SOGAZ-Serbia

Published on 25. March 2011., Uncategorized

Srbijagas public company and Russian Gazprom signed a contract on Thursday on the constitution of joint Serbian-Russian insurance company SOGAZ-Serbia, Srbijagas Director General Dusan Bajatovic stated.

According to Bajatovic, Gazprom will have a 51 per cent share in SOGAZ-Serbia, while Serbia would hold 49 per cent of the company’s shares.

The founding capital of the joint insurance company will total EUR 6 million, of which Srbijagas would invest EUR 2.9 million, while Gazprom would participate in the capital with EUR 3.1 million, Bajatovic said.

He noted that all permits needed for the foundation of the insurance company would be obtained in the course of the next month.

Joint insurance company SOGAZ-Serbia and Gazprombank, granted the latter opens its office in Serbia, should fund the energy sector and other economic activities, Bajatovic announced and pointed out that the goal of the financial institutions in Serbia would be to ensure that a part of the profits from sale of energy sources stays in Serbia.

Source Emg.rs