The CCPP Pancevo construction project is beingjointly implemented by Gazprom Energoholding and NIS jsc. Novi Sad (a subsidiary of the Gazprom Neft Group). In June 2015, a Shareholders’ Agreement was signed providing for the development of a joint company, Serbskaya Generaciya d.o.o. Novi Sad with Gazprom Energoholding owning 51% of shares and NIS a.d. Novi Sad owning 49%. In March 2019, the joint venture was renamed as Gazprom Energoholding Serbia d.o.o.

To manage the construction and further operation of CCPP Pancevo, a wholly owned subsidiary of Gazprom Energoholding Serbia d.o.o. named Gazprom Energoholding Serbia TE-TO Pancevo d.o.o. was established.

The CCPP will settle the growing needs of the Pancevo Oil Refinery in electricity and heat — process steam.

In addition, CCPP will increase the level of reliability of power supply by supplying up to 65% of the generated electrical energy to the power system of Serbia.

For reference

Gazprom Energoholding (a wholly owned subsidiary of Gazprom) is a company specialized in managing the Gazprom Group’s enterprises in the electric power industry. The company is among the ten leading European electricity producers.

Gazprom Energoholding owns controlling shares and manages the Gazprom Group companies in the electric power industry in accordance with the uniform corporate standards. The holding consists of three generation companies (generating electric and heat energy) — Mosenergo, TGK-1 and OGK-2. They include about 80 power plants of total installed electric capacity above 38 GW (about 1/6 of the installed capacity of the entire Russian electric power industry).

The Gazprom Energoholding Group also includes MOEK, the unified heat supply organization in Moscow. The company provides centralized heating and hot water supply to the capital of Russia. MOEK is the operator of the longest heat energy system in the world.

Since 2007, Gazprom Energoholding companies have implemented over 30 construction and modernization projects for energy generation facilities with total capacity of about 9 GW. In particular, in cooperation with the world’s leading manufacturers of power equipment Ansaldo, Siemens and Alstom, 17 modern power units with capacity of 180-800 MW, based on the combined steam and gas cycle technology, have been constructed and put into operation. Putting such equipment into operation allows to decrease operating costs due to a higher coefficient of performance (COP) and to reduce emission into the air. Combined steam and gas cycle power units are one of the most environmentally friendly power facilities.

NIS a.d. Novi Sad is one of the largest vertically integrated energy companies in Southeast Europe. The main business streams are exploration, production and refining of oil and gas, as well as sale of the refining products. Gazprom Neft owns 56.15% of the shares of NIS, 29.88% of the shares are owned by the Republic of Serbia. NIS owns a refinery in Serbia with two production sites located in the cities of Pancevo and Novi Sad.