Oil Industry of Serbia plays at the electricity market as well

(Photo: nis.rs)

Our primary objective is to convert the Oil Industry of Serbia (NIS) into energy company, Alexei Belov, the Executive Director of the Energy Block in the Oil Industry of Serbia, said in an interview for Balkanmagazin.

If we are talking about the capacity development prospects for electricity generation, I can tell you that over the next three years we are planning to have an active totaling up to to 500 MW of generating capacity, Belov says.

He adds the company has three core activities.

- First – energy consumption reduction measures, primarily by eliminating the focus of irrational use of energy resources. Second – usage of the existing energy of NIS, such as dissolved gas, for generation of their own generating capacity. That gas, which is usually flared, is used for the electric and thermal energy production. The plan is to install 8 cogeneration modules with a total capacity of 7.65 MW at the NIS sites by the end of the year and by the end of 2014 to install 14 cogenerators with total capacity of about 25 MW. The investment will exceed EUR 30 mil. Finally, the third item – participation in the TETO projects in Pancevo with the capacity of 200 MW and the reconstruction of TETO Novi Sad, with an increase in the station capacity to 240 MW - Belov says.