The Serbian National Petroleum Committee of the World Petroleum Council, which aims at representing the interests of Serbian oil and gas industry in the Council, the largest and oldest NGO in the field of oil and gas, has been established today.

Minister of Energy and Mining Petar Skundric pointed out to the importance of Serbia joining this organisation as the idea of Serbia becoming part of that world-recognised organisation has been there for several decades now.

He noted that Serbia will be able to use the experience of more than 60 member states of the Council.

The objectives of the Committee include sustainable development and representation of the Serbian oil and gas industry in the World Petroleum Council and other international institutions and organisations, he said.

The long-term development of oil and gas industry in Serbia is directly dependent on the implementation of the agreement on cooperation with Russia in oil and gas industries, he said.

The completion of the modernisation of Refinery Pancevo, the realisation of South Stream gas pipeline section through Serbia and optimum performance of gas storage Banatski Dvor are projects that will contribute to energy stability in Serbia and provide raw material for the development of other industries, said Skundric.

He added that the implementation of these projects in due time is the responsibility of the Serbian government and the Russian strategic partner.

The founders of the National Petroleum Committee are the Universities of Belgrade and Novi Sad, Naftna Industrija Srbije (NIS), Serbian Chamber of Commerce (PKS), public companies Transnafta and Srbijagas, Serbian Association for Oil and Gas, Lukoil, and the Association of Oil Companies.