"Srbijagas" registered lossed of 9.3 billion RSD

The Director General of "Srbijagas", Dušan Bajatović, said yesterday (December 28, 2009) in Banatski Dvor that that company would end the year with the losses of 9.3 billion RSD, but that, from the accounting point of view, those losses had been reduced to minimum due to takeover of the companies through conversion of outstanding claims.

- The losses amount to 9.3 billion RSD or 107m EUR, but if we take in concern the value of the capital obtained from the takeover of Glassworks in Paraćin, the Factory of Methanol and Acetic Acid in Kikinda and "Azotara" (Fertilizer Factory) in Pančevo, our balance is close to positive zero - he said at the press conference.

According to the words of Bajatović, no one is to be blamed for the losses of "Srbijagas" because the Government made the decision, for social and economic reasons, to keep the prices of gas below its real value, that is, the price of gas was lower than the price it was bought at.

He pointed out that the gas consumption in 2009 would be 33% smaller than in 2008 because of the general economic crisis and smaller purchasing power of the citizens.

In spite of all that, "Srbijagas" wants to keep expanding its business and become the driver of the country's economic development.

- Our plan is to become a serious regional player in the field of transportation, storing and trade in gas, which can achieved through expansion of the pipeline network to Croatia, Bosnia and Herzegovina, Macedonia, Montenegro and other countries in the region - said CEO.