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$15m Serbia gas gig up for grabs



By Upstream staff 

Serbia has invited foreign and domestic companies to bid to complete the €11.5 million ($15.18 million) pipeline infrastructure needed for its first natural gas reservoir.

Financed by the government, the works include a 22 kilometre outlet gas pipeline and accompanying units to transport the gas from underground reservoir at Banatski Dvor to end users, an Energy Ministry official said.

Bids should be submitted within seven days together with a 20 million dinar ($334,901) bid bond, said the invitation published by Serbia's gas monopoly, Srbijagas.

The storage unit, designed to hold up to 800 million cubic metres of gas a year and due to become operational by the end of next year, should reduce Serbia's reliance on daily gas deliveries from Russia's Gazprom , via Ukraine and Hungary.

The total cost of the underground storage is estimated at $240 million, to include filling the reservoir with gas.


Thursday, 30 November, 2006, 16:34 GMT  | last updated: Thursday, 30 November, 2006, 16:34 GMT

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