Russ Oil-Gas

27 March 2009 - Tanjug - Gas manufacturers Srbijagas and Gazprom will set up a joint company in April, which will be seated in Switzerland and which will be in charge of the realisation of the part of the South Stream stretch running through Serbia. Gas manufacturers Srbijagas and Gazprom will set up a joint company in April, which will be seated in Switzerland and which will be in charge of the realisation of the part of the South Stream stretch running through Serbia. Srbijagas Director Dusan Bajatovic has said that the Russian-Serbian company will be seated in Switzerland because Serbia is not in the position to manage the assets, licence or any other rights of that firm. He added that "we still have to resolve the way in which decisions will be made in the joint company, which will have to protect all of our interests equally, since the ratio is 51 to 49 percent," with Serbia having the lower percentage. "We do not want to be someone who will be financing the 49 percent and who will not be authorized for anything, and this is where we have to be very careful," Bajatovic said in an interview with the Serbian Radio Television (RTS). One more thing which we also have to do is to define the quantities of gas that are required for the Serbian market, the effective cost of the project, repayment of the loan, he added