Gazprom Energohodling and NIS construct a thermal power plant

September 26, 2013

Newspaper „Pancevac“ CEO of Gazprom Energoholding Denis Fjodorov and CEO of NIS Kirill Kravchenko signed a Memorandum on construction of Pancevo based steam-gas thermal power plant, which capacity will go up to 208 megawatts, in Moscow. Two companies will establish a new joint company which will have exclusive rights related to investments and realization of project. According to signed memorandum, Russian partner will have a portion of 51%, while NIS will have 49% of start-up capital. Electric and thermal energy produced at thermal power plant will primarily supply oil refinery of Naftna industrija and its strategic partner, Petrohemija Pancevo. Remaining amounts of electric energy will be placed at Serbian energy market which, according to expectations, will be fully liberalized at the beginning of 2015. According to NIS officials, natural gas will be fuel for the new plant, as it is the cleanest energy resource from ecological point of view and they also reminded that technology of steam-gas cycle is the most efficient solution from economic point of view. Kravchenko stated that “participation of NIS in the project of construction of Pancevo based thermal power plant represents a part of the corporate program for increase of efficiency and utilization of energy resources”, adding that the most advanced technology will be chosen, as it will allow reduction of expenses and high level of ecological safety.