Srbijagas

Srbijagas
Native name
 Србијагас
Government-owned corporation
Industry Natural gas
Predecessor NIS-Gas
Founded Novi Sad, Serbia (1 October 2005 (2005-10-01))
Headquarters Novi Sad, Serbia
Area served
 Serbia
Key people
 Dušan Bajatović (General director)
Milivoje Miletić (CEO)
Services Distribution of natural gas
Revenue Decrease €580.82 million (2014)[1]
Increase –€372.34 million (2014)[1]
Total assets Decrease €994.91 million (2014)[1]
Total equity Steady €0 (2014)[1]
Number of employees
 1,132[1]
Website www.srbijagas.com

Srbijagas (full legal name: J.P. Srbijagas) is the state-owned natural gas provider in Serbia with headquarters in Novi Sad.

History

Srbijagas was established on 1 October 2005 as a result of restructuring the integrated petroleum company NIS. The company was created on the basis of NIS divisions NIS-Gas and NIS-Energogas.[2]

At the end of 2011, the company's total equity was US$ 443.38 million and after one year it dropped to only US$ 15.86 million, making the company for the first time unprofitable, mainly because of differences in cost and selling price.[1] In April 2013, Minister of Energy, Development and Environmental Protection, Zorana Mihajlović stated that Srbijagas has debt of more than 1 billion €.[3][4]

In 2013, the government of Serbia decided to split Srbijagas into two separate companies because of its mounting debt and unsustainable business practices. The transportation and storage units will operate as Transgas AD, while trade and distribution would continue to operate under Srbijagas AD.[5]

In June 2014, it was once again named the most unprofitable state-owned company, making annual net loss of €443.14 million for the calendar year of 2013.[6]

References

  1. 1 2 3 4 5 6 Годишњи извештај о пословању уз редовни годишњи финансијски извештај. Agencija za privredne registre Srbije (in Serbian). Retrieved 4 October 2015.
  2. ↑ "Istorijat" (in Serbian). Srbijgas.com. Retrieved 24 April 2013.
  3. ↑ ""Srbijagas" duguje milijardu evra". RTS (in Serbian). Retrieved 3 August 2013.
  4. ↑ ""Srbijagas" duguje milijardu evra". b92.net (in Serbian). Retrieved 3 August 2013.
  5. ↑ "Serbia to Split Up Srbijagas, Reschedule Its $1.5 Billion Debt". Bloomberg. 23 April 2013. Retrieved 24 April 2013.
  6. ↑ "Srbijagas najgori, NIS najbolji". b92.net (in Serbian). apr.rs. Retrieved 17 June 2014.
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