BH Gas sues Sarajevogas for millions of debt

BH Gas sues Sarajevogas for millions of debt

Sarajevo, June 19, 2015/ Independent Balkan News Agency

By Mladen Dragojlovic

BiH gas company, BH Gas, sued the gas distributor in Sarajevo, Sarajevogas company, for the debt of 56 million BAM (EUR 28 million).

BH Gas announced that the debt and its value are not disputable. This number refers to the basic value of the debt, without taking into account the legal default interest rate.

“All attempts of BH Gas to consolidate the debt or to find another solution for this situation, which affect citizens of Sarajevo, failed. That is why it has become obvious that a problem like this can only be solved on the court. BH Gas will demand that the court determines if it is realistic to expect that Sarajevogas pays the debt or if it is necessary to take other steps”, says in BH Gas announcement.

They emphasized that the company earlier tried to ascertain the financial situation in Sarajevogas. But, as it is stated in the announcement, representatives of Sarajevogas were against this solution on the court and it comes to show that Sarajevogas doesn’t want the public know what its financial situation is. BH Gas is the supplier of natural gas from Russia in BiH, and Sarajevogas is the distributor of natural gas for the BiH capital. It also distributes natural gas for heating plants and the discontinuation of the distribution would have enormous consequences.

Just a few days ago, BH Gas management called Sarajevogas and representatives of Canton Sarajevo on negotiations, in order to find a solution for the big debt. They expect that meeting will take place soon, because it is time to think on the next heating season. Their plan is to find a way to decrease of Sarajevogas’ debt under 35 million BAM (EUR 17,5 million).

“Our goal is to provide stable gas supply for all our customers and we hope that Sarajevogas and the Canton Government will understand our position”, BH Gas said in a recent announcement, “but, it has been made obvious that there is no good will and BH Gas has to sue this company”.

Because of this situation, BH Gas is not able to pay its debt to the Russian company and will also fail to be part of development projects in the area of gas industry in this part of Europe.