This morning before the opening bell, Energtek Inc. announced that it has signed a Memorandum of Understanding with a local energy supplier for the joint implementation of its natural gas distribution technology in the Republics of Serbia and Macedonia. The parties anticipate effective commercial fuel distribution within the next several months.

Serbia and Macedonia are among the countries with the most underdeveloped gas pipeline network in Europe, but have also enjoyed the highest industrial growth rates in the last several years. For these reasons, Serbia and Macedonia are credited as having the greatest potential for gas bulk transportation projects.

An Energtek delegation led by CTO Dr. Y. Ginzburg recently conducted a series of meetings in Serbia, Macedonia, and other Balkan states. Focusing on the application of Energtek’s proprietary Low-pressure Mobile Pipeline(TM) (LMP) solution for land-transportation and distribution of natural gas to industrial and commercial consumers, the meetings resulted in the signing of a Memorandum of Understanding.

“We are pleased with the progress we have made on our recent visits to Serbia and Macedonia,” said Energtek CEO Lev Zaidenberg. “These countries have many potential users of natural gas that are not connected to the regional gas pipeline grid. Working together with local partners, we can utilize our technology to deliver natural gas to large energy consumers and contribute to a healthier environment. Natural gas is substantially cleaner than fuels derived from oil, and natural gas prices are comparatively lower than diesel or gasoline.”

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