The Serbian Prime Minister backs the ratification of an inter-government agreement on oil and gas cooperation.

Serbian Government is firmly backing up the energy treaty which was signed with Russia – said Serbian Prime Minister, Mirko Cvetković. He added that the talks on concluding oil and gas agreement covering the sale of Petroleum Industry of Serbia (NIS) were going to be held, and that this was all he could say on for now.

Cvetković also said that assessing the market value of NIS was needed in order for the citizens of Serbia to get some idea about how much money they were going to get on the account of the free shares of NIS allocated to them. The energy treaty concluded between Serbian and Russia stipulates the sale of 51% of NIS to Russian Gazprom Neft. Gazprom Neft undertook to invest at least €500 million in the company, and the contract stipulating all the aforementioned is due to be signed by the end of 2008.