Srbijagas to take out EUR 30 million loan for purchase of gas

Srbijagas does not have enough money to buy gas for the upcoming winter season, which is why it will take out a short-term loan of EUR 30 million. The plan is for the company to provide bills of exchange as guarantee to the bank for the loan.

The documentation of the public procurement which opened in mid-August says that the loan is needed for the purpose of covering the company’s current liquidity, but the real reason for the new loan is the lack of money needed to close the financial construction with Gazprom for the delivered gas, Blic writes.

So as to prevent problems in gas supply from arising during the winter, the company’s management has decided to take out a short-term loan, which needs to be repaid over the next year. This is the only way to maintain the dynamics of gas delivery, that is, to keep the reservoirs in Banatski Dvor full for the upcoming winter season.

The money needs to be secured fast, by mid-October, which is the deadline for the repayment to Gazprom. Otherwise, both the business sector and the households using this energy source might be left without it. The current debt of close to a billion euros will thereby be increased by another EUR 30 million, which may further destabilize the company.

– It needs to be said that Srbijagas has not incurred new debts for the purchase of gas since 2012 and that we don’t owe anything to Gazprom at the moment, as all gas is paid for within deadline – said Dusan Bajatovic, director of Srbijagas.

JP Srbijagas Novi Sad

Gazprom Moscow

heating season

Gazprom

gas supply

Banatski Dvor

Dusan Bajatovic

Banatski Dvor gas storage