Gazprom board to issue voting directive for management bodies of Serbia's NIS for first time

MOSCOW. April 22 (Interfax) - The board of directors of PJSC Gazprom will issue a directive on voting in the management bodies of Serbia's NIS for the first time on April 29, the Russian issuer said.

"On coordinating the position of PJSC Gazprom on voting by its representatives in the management bodies of NIS a.d. Novi Sad," is the wording of the issue in the material fact statement.

The decision is being made by absentee vote, and the concern usually does not disclose details of such issues.

Such issues regarding other subsidiaries are regularly and routinely brought to the board of directors of the parent company, but regarding NIS this is being done for the first time. Previously, in Gazprom's feed of material facts, NIS was mentioned in statements on approving contracts and on share transactions.

NIS is the only company in Serbia engaged in exploration and production of hydrocarbons. It owns a large refinery in the city of Pancevo with a capacity of 4.8 million tonnes per year. The company dominates the petroleum products market in the country. Its network of filling stations is also present in neighboring Balkan states, totaling more than 400 stations.

Currently, the main owner of the company is Gazprom Neft (44.85%), with another 11.3% of shares owned by JSC Intelligence (managed by Gazprom Capital LLC). Gazprom directly owns one share of NIS. The Serbian authorities own 29.87%, and the company also has minority shareholders.

NIS, as a subsidiary of Gazprom Neft, was included in the U.S. SDN List in 2025. Serbian President Aleksandar Vucic said at the time that the U.S. demanded the complete withdrawal of Russian capital.

It was reported that Hungary's MOL had agreed with Gazprom Neft to purchase 56.15% of NIS. It is assumed that MOL may later sell a minority stake in NIS to ADNOC (UAE). In addition, Serbia may increase its stake in NIS by 5 percentage points in the future.