At a press conference following the signing Naumov announced that the first construction stage of the underground gas storage facility will be completed by end-2007, adding that the signing of this contract signifies the beginning of the National Investment Plan's implementation regarding gasification.
Naumov stressed that this first stage envisages the completion of a technological production line for the preparation, drying and dispatch of natural gas into the gas pipeline.
He also said that a two-way 42-kilometre long pipeline from Gospodjinci to Banatski Dvor is also part of the first stage and it should link the Banatski Dvor storage facility to the gas transport system.
Executive Director of Serbian oil company NIS Naftagas Igor Korac pointed out that after the first stage is completed the underground storage will hold 200 million of cubic litres a year and once the entire storage space is finished the capacity will rise to 600 million cubic litres.
He added that apart from this one, another contract has been signed today, namely the contract on the construction of a well at the Ljig spa worth around €1 million which will enable the use of geothermal energy.
According to Korac, the funds for the realisation of the project have been secured from the National Investment Plan.
General Director of the Serbian gas company Srbijagas Milos Milankovic stressed that the construction of the underground storage is a priority because it will enable safe and stable gas delivery to consumers in Serbia.
Milankovic also stressed that there are other potential locations in Vojvodina where similar facilities may be built.