Srbijagas absorbs Novi Sad-Gas, assumes assets and liabilities
The state-owned company assumed Novi Sad-Gas’s debts, property and 94 staff while registered capital increases to 76.422.696.900,77 dinars.
State-controlled energy company Srbijagas has taken over the Novi Sad-Gas distributor, assuming its obligations, assets and workforce as part of a corporate reorganisation and financial consolidation of the gas sector.
Capital increase and balance-sheet transfer
The Government of Serbia approved an amendment to the decision aligning Srbijagas with the Law on Public Enterprises that raises the company’s registered capital from the previous 72,05 billion dinars to 76,42 billion dinars. The decision records the registered capital of Srbijagas as 76.422.696.900,77 dinars, of which 391,2 million dinars are cash capital and the remainder is non-cash capital made up of movable and immovable property, securities, property rights and other assets.
Republic of Serbia remains the lone owner with 100 percent of the share capital. Under the integration, Srbijagas takes ownership of Novi Sad-Gas’s entire financial interest, business liabilities and material assets, including distribution networks, licences, metering and regulation stations, and bank accounts.
The move follows years of financial strain at the Novi Sad distributor. Srbijagas’s receivables from the company reportedly rose from 13,38 billion dinars at the end of 2018 to 28,56 billion dinars by the end of 2025. As part of the takeover, 94 employees of Novi Sad-Gas will transfer to Srbijagas to secure continuity of operations and upkeep of the gas infrastructure.
This consolidation is presented as part of broader plans to transform Srbijagas and move to a different model of corporate governance. Authorities say the change will require adapting to new rules for managing state enterprises and raises questions about professionalising management, improving operational efficiency and ensuring long-term financial sustainability.
Officials frame the merger also as an attempt to stabilise finance across the gas sector and to increase state control over strategic energy infrastructure.
Photo: press material from the event
