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. Last Updated: 07/27/2016

Gazprom Banking in Serbia

KOPAONIK, Serbia — Serbian gas monopoly Srbijagas and Gazprom aim to start their own banking venture this year to help fund their joint projects in Serbia.

The two partners will also finalize plans for the construction of Serbia's stretch of the South Stream gas pipeline, Srbijagas' chief executive Dusan Bajatovic said Wednesday on the sidelines of a business forum.

"We wanted to diversify financial risks and have turned to Russia, which has fresh money for investments," Bajatovic said. The bank venture should enter the Serbian market by the end of 2012, Bajatovic said.

(Reuters)