Serbia: Russia’s Strategic European Petroleum Beachhead?

Via a report by UPI, Russia has offered Serbia $1.5 billion for control of its oil industry and additional deals related to a gas pipeline and a gas underground storage. The deal would give Russia full control of Serbia’s gas and oil markets. I find this of interest in that it would give Russia a strategic energy “beachhead” near the heart of Europe. As the article notes:

“…The Russian government offered $750 million in cash and $750 million in investments for a majority interest in Serbia’s NIS oil company…

…The offer includes arrangements for a leg of the Russian South Stream gas pipeline, yet to be built, that would transport natural gas from the Black Sea across Bulgaria, Bosnia-Herzegovina, Serbia and on to Western Europe.

The construction of large natural gas underground storage at Banatski Dvor, 65 miles north of Belgrade, is also included in the offer.”

This entry was posted on Sunday, December 30th, 2007 at 4:20 pm and is filed under Russia, Serbia.  You can follow any responses to this entry through the RSS 2.0 feed.  Both comments and pings are currently closed. 

Comments are closed.

Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.