Skundric specified that as part of the modernisation of the processing capacity of NIS, construction of a complex for hydrocracking and hydro processing of crude oil began, which will cost €397 million. Another €70 million will be invested in a hydrogen production plant.
He highlighted that this is a historic day for NIS and that this project is a realisation of the interstate energy agreement between Serbia and Russia.
The Minister underlined that the modernisation will help to increase the oil processing capacity at the Pancevo refinery to 4.8 million tonnes a year and enable NIS to make a full shift to the production of petrol and euro diesel 5 in line with European environmental standards.
Once the facility is constructed, NIS’ total income should rise by €270–300 million a year.
Serbian Prime Minister Mirko Cvetkovic, First Deputy Prime Minister and Minister of the Interior Ivica Dacic, Minister of Environment and Spatial Planning Oliver Dulic, Chairman of the Gazprom Neft Management Board Alexander Dukov, NIS director general Kirill Kravchenko and Russian Ambassador to Serbia Alexander Konuzin also attended the ceremony.