Bloomberg reports that in exchange, Russia will agree to route its South Stream pipeline through Serbian territory, securing it long-term supplies and transit fees.
"The deal will be initialed today and will be formally signed by Serbian President Boris Tadic and Russian President Dmitry Medvedev in Moscow by the end of the week," Dusan Mrakic, a state secretary with the Energy Ministry is cited as saying.
Serbia's RTS TV reported that Gazprom Neft pledged to pay 400 million euros ($560 million) for 51 percent of NIS and invest a further 500 million euros in Serbia's oil industry. Serbia will keep 49 percent of NIS, and some decision-making powers, the station reported.
Economy Minister Mladjan Dinkic has long protested any such deal, saying Russia has given no firm guarantees that it will build the pipeline.
Author: Ksenia Kochneva
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Gazprom to Buy Serbian Oil Refiner
The Serbian Energy Ministry reached an agreement to sell Gazprom its state oil refiner Naftna Industrija Srbije, despite opposition from within the government
