NIS to produce electric power

The Petroleum Industry of Serbia (NIS) plans to start producing electric power as part of its development strategy until 2020, NIS Director General Kirill Kravchenko said on May 6.

He said to the press that the strategy envisaged commencement of NIS operations in the energy industry and further expansion to the petrochemical industry in association with Pancevo-based Petrohemija.

Kravchenko was unable to reveal any details of the plans for the production of electric power, but he said that NIS would be producing electricity in big or small plants by burning natural gas.

He added that more information would be available in autumn.

According to the development strategy of NIS, gas and electric power are planned to be produced in association with Srbijagas, the Electric Power Company of Serbia (EPS), and Elektromreza Srbije.