After years of negotiations between the state and the company Makpetrol, and a series of court disputes over the ownership of the gas pipeline, Parliament on Monday passed a law regulating that the gas pipeline is 100% owned by the state.

Parliament voted 60-30 in favor of the legislation after days of marathon sessions where MPs from the ruling majority and the opposition were debating the bill.

The law is heavily criticized by the opposition claiming the legislation violates several articles of the Constitution. Opposition MPs have called on the President not to sign the bill into law.

VMRO-DPMNE MPs announced they would initiate a procedure for the constitutionality of the legislation to be assessed.

Levica party also announced it would call on the head of state to use his right to suspensive  veto, insisting the law is suspicious and harmful and violates the Constitution.

In a statement released yesterday, Makpetrol said GA-MA joint-stock company has been valued at EUR 65,547,810.

GA-MA was formed as a joint-stock company owned by Makpetrol and the government of North Macedonia, each owning 50 percent of the overall founding capital of the company, estimated at EUR 37,612,500.

“Since 2006, GA-MA has invested tens of millions of euros into the gas pipeline system in the country. After the company was valued at EUR 65,547,810, Makpetrol owns 50% – EUR 32,773,905. Thus, no one gives anything to Makpetrol,” said the statement.

It said the company is obligated to abide by the law on energy and sell its share of 50% in GA-MA, because it cannot both supply and transport natural gas.

The contract on buying Makpetrol’s share in GA-MA was concluded in 2019 with the European Energy Community serving as a mediator. The state taking the ownership of GA-MA was part of the third Energy Package.