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The Government of the Republic of Serbia

In the service of citizens

Draft agreement on cooperation with Russia in fuel economy handed over to Serbia

Belgrade, 11 December 2007

Russian Ambassador to Serbia Aleksandar Alekseyev handed over today to Serbian Minister of Energy and Mining Aleksandar Popovic the draft agreement which envisages cooperation between the two countries in fuel economy, mainly oil and gas.

Aleksandar Popovic, left, and Aleksandar Alekseyev at today's press conference

Speaking at a joint press conference with Alekseyev, Popovic said that the draft envisages strategic partnership between Russia and Serbia in construction of underground gas storage facilities in Serbia as well as strategic partnership in modernisation of the Serbian oil industry NIS.

He said that this document is an extension of the memorandum on understanding signed in December last year which concerns construction of a main gas pipeline link “Southern Stream” through Serbia.

Such an agreement could make Serbia a leader in the energy sector since the gas pipeline going through Serbian territory would provide Serbia proceeds from transport, and also energy security in the long run not just in gas but also electricity supply, explained the Minister.

According to Popovic, this would lead to further development of industry, which uses gas as fuel or as raw material and this in turn will attract new investments and create more jobs.

Popovic said that this kind of cooperation is of great importance for Serbia as it solves some crucial issues of every country, that is, providing enough energy sources for citizens and economy.

He said that he cannot reveal details of the agreement and added that they are yet to be defined precisely.

In order to establish the final route, other countries also need to do what is necessary, the Minister said and stressed that the Serbian side, once the agreement is signed, will do its maximum to provide all conditions for the construction of part of the pipe line through Serbia.

Popovic expressed expectation that the agreement will be defined within the next month and noted that the document will be available to the public once it is submitted to parliament.

A task force including the Prime Minister and Deputy Prime Minister and line ministers will study the document and set up the final version of the agreement, after which it will be sent to parliament to ratify it, he said.

Alekseyev said that the signing of this document would be an important event in relations of Serbia and Russia.

This document will impact the energy security of the whole region, the Ambassador said noting that country’s economic development is not possible without a stable, strong and perspective energy sector.

Alekseyev added that Russia is working on implementation of set goals together with Serbian President and Serbian Prime Minister, and added that first estimates are very positive and encouraging.

From the consumer country, Serbia will get the status of transit country, the Russian Ambassador said noting that this agreement would provide Serbia’s energy stability on the long run.

He also stressed that everything is set for implementation of these project as soon as possible, adding that each detail will be harmonised with Serbian partners as these are three major joint projects.