Native name Србијагас Predecessor NIS-Gas Revenue 580.8 million EUR (2014) Area served Serbia Total equity 0 EUR (2014) | Industry Natural gas Headquarters Novi Sad, Serbia Founded 1 October 2005 Total assets 994.9 million EUR (2014) | |
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Type Government-owned corporation Key people Dušan Bajatović (General director)
Milivoje Miletić (CEO) Services Distribution of natural gas Subsidiaries Agroziv AD, South Stream d.o.o. Novi Sad, Metanolsko-sircetni kompleks Kikinda | ||
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.
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. In April 2013, Minister of Energy, Development and Environmental Protection, Zorana Mihajlović stated that Srbijagas has debt of more than 1 billion €.
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.
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.