Expert: In negotiations with MOL, Serbia must not give up on one issue regarding Pancevo refinery!

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Economist Milan Beslac said today that in negotiations with MOL about the acquisition of the Russian share in the Petroleum Industry of Serbia, NIS, Serbia is looking for the minimum and what is logical, which is that the Pancevo refinery continues to operate.

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Beslac said that Serbia must not give up on the demand that the refinery continues to work and produce all the products that it has produced so far, because this is of strategic importance for the country.

Commenting on the fact that certain media are reporting unofficial information about several more interested buyers having appeared just a few days before the OFAC deadline for negotiations on the sale of NIS, Beslac told Tanjug that one of the reasons why these offers are arriving now is that there is no final agreement between Gazprom and MOL four days before the deadline for submitting the purchase agreement, and there has not even been an announcement that the negotiations are in the final phase.

Although these four days until May 22 should be used only to redefine the text and correct typographical errors, there is still only the announcement that negotiations are underway and that no agreement has been reached.

"These offers are arriving in order to further delay the talks between MOL and Gazprom Neft and to challenge what has already been agreed. I don't think this is happening by chance, but that it's completely intentional. If I were in Gazprom Neft's place, I would perceive these offers as frivolous, because if some people were serious about buying NIS, they have had a year to submit their offer. Even if those offers were serious and well-intentioned, there is no time to conclude the contract by May 22," he said.

Asked who would benefit the most geopolitically if MOL were to give up on acquiring NIS, Beslac said that it would be Russia, i.e., Gazprom Neft, because then it would be logical to prolong the negotiation process.

According to him, Moscow would get a chance to reach an agreement with Ukraine and be freed from sanctions, which would make it unnecessary to sell its stake in NIS.

Beslac pointed out that Serbia could also benefit by using its right of first refusal, unless it has waved it - and in some way agree with the Russians to take over their share in NIS, and assessed that this would be the best option for Serbia.

According to him, if there were to be a takeover by Serbia, it could not be a hostile takeover.

Asked what it would mean specifically if MOL does not accept the conditions set by Serbia, Beslac said that what the state has been negotiating with MOL for the past few weeks is Serbia's best intention to maintain as much energy stability as possible in the country and its surroundings, where NIS has its gas stations.

Asked how likely it is that a full agreement will be reached by May 22, Beslac assessed that it will not be finalized by May 22 and that the US Treasury Department's OFAC will extend that deadline if necessary.

"We still have an operational license for NIS until June 16, and that gives us enough time to think about whether we have enough opportunities to use the right of first refusal. If OFAC does not extend the deadline for negotiations, then Serbia must make unpopular moves in a decent way, so that it does not end up on the list of countries hostile to Russia," he said.

(Telegraf Biznis/Tanjug)