Good news coming for NIS? Expert reveals what Americans could do in just a few days

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The editor of the Energija Balkana website Jelica Putnikovic said today that it is good that the operating license for Petroleum Industry of Serbia, NIS, and the license for MOL to negotiate the acquisition of the Russian share in NIS are separate, as well as that she expects that the US OFAC will extend the license that expires on July 31 and that there will be no shutdown of the Pancevo Refinery - something that happened last fall.

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Putnikovic told Tanjug that even if OFAC decides that MOL is not the ideal buyer to whom Gazprom Neft should sell its shares in NIS, it does not mean that the Americans will not extend the operating license for NIS, since the two licenses are separate.

She added that the process of selling Russian shares in NIS should be completed as soon as possible so that the company can operate normally.

Asked how long the US will have patience over the sale of NIS and whether the understanding of the Americans can be influenced by the strategic dialogue that has been initiated between the US and Serbia, Putnikovic assessed that the strategic dialogue can certainly have an impact because she believes our representatives have presented in Washington that Serbia is very interested in NIS continuing to operate and completing the process of changing Russian ownership, as it is very important for Serbia's energy security.

She mentioned that NIS cannot develop, plan or complete some jobs, as well as that it cannot do normal business with foreign companies as long as it is under sanctions.

Asked whether the Russians would continue to supply Serbia with natural gas, if Serbia were forced to take over NIS, i.e. to buy the Russian share in the company, Putnikovic said that if OFAC stops the process of selling Russian shares to MOL and announces that it will impose total sanctions againstNIS, then Serbia will to come up with a back-up plan and reach an agreement with Moscow on ways to resolve the situation.

"What we have already heard from our politicians is that there will not be a hostile takeover of (the Russian stake) in NIS. There have been analysts who claim that this could have been done in another way, and that is still possible, however, since there the issue of Russian ownership in NIS is quite the hot topic, I believe that Serbia will not challenge the Russians precisely so that we don't run out of gas," she said.

Asked if a strategic dialogue with Washington can speed up Serbia's energy transition and tie it to new western energy corridors and supply chains in the long term, Putnikovic pointed out that when it comes to these corridors, Serbia is the country with the most developed network when it comes to energy cooperation and electricity transit, given that we have transmission grids connecting with all neighboring countries and an electricity exchange.

She added that Serbia is also building new gas pipelines in order to diversify the sources and directions of supply, which shows that Serbia has already started the energy transition.

"If the line were to be drawn, then the question is how much we are actually lagging behind some other countries, including some EU members. We should have as secure a domestic energy supply as possible. Since we do not have enough crude oil and natural gas, we have to turn to something else, and it's very good that the Bistrica hydroelectric power plant and Djerdap 3 will be built, which means that we will have enough electricity because electricity is the future," she noted.

When it comes to the importance of the strategic dialogue with the US on the issue of energy, Putnikovic said that the start of this dialogue shows that the US has decided to "enter" Serbia and the Balkans for geopolitical reasons in order to displace Russia and its influence in this region.

According to her, it is very important for Serbia to negotiate well with America regarding our energy security so that our country does not become dependent on the Americans in any sector, as it is now dependent on Russian gas.

(Telegraf Biznis/Tanjug)