All the Inaction of BH-Gas Comes Due: Reductions Inevitable, Fear of Complete Gas Shutdown!

The company „Sarajevogas“ is not settling its obligations to BH-Gas for regularly delivered gas, and this continues to undermine BH-Gas's liquidity, say sources from BH-Gas, who disclaim any responsibility and shift the blame to the Government of Sarajevo Canton, the owner of „Sarajevogas“. BH-Gas has threatened that the system's survival is at stake, reports the Patria news agency.

As of January 31, 2015, Sarajevogas's debt to BH-Gas amounted to 50 million KM, plus default interest of nearly 11 million KM, and from today Sarajevogas will be issued a new invoice after which this debt will increase by another 20 million KM.

And so for years everything has been going in circles, but the fact is that BH-Gas cannot „wash its hands“ because a great responsibility lies with them. Well-informed sources about the situation in BH-Gas say that all this was known as early as last autumn, but BH-Gas often submitted incorrect information to the Government of the Federation of Bosnia and Herzegovina.

- Slowly but surely, all the inaction of BH-Gas's management is coming due. Now only two options remain: either greater reductions leading to a complete shutdown, or multi-million credit debts. According to the market situation, no bank will continue to support BH-Gas in granting loans except those already given. The stories about the successes of BH-Gas's management regarding increased collection are now coming “due” – says our source.

And until investigative authorities enter BH-Gas and investigate crime and corruption, this will continue to happen, warns our source.

- „Sarajevogas“ is indeed a debtor, but BH-Gas has cash outflows that it cannot control. However, all this was known earlier – adds our source.