Bosnia and Herzegovina, Gas prices have risen by 15% since April

, SEE Energy News

The price of gas that Republika Srpska buys from Russia’s Gazprom has increased by about 15% since April, confirmed GAS Res director Ljubo Glamocic on Wednesday.

The contract signed in 2015 determined the manner of calculating the price of gas according to the oil formula. Considering the movement of oil prices on the stock exchange, there was an increase in prices for April and May compared to the first quarter by 14.6%, which is in line with the oil formula and the agreement in force, Glamočić explained.

He pointed out that Republika Srpska has signed an agreement with Gazprom until the end of May, and that negotiations on a new agreement with the Russian company should begin after the May Day holidays.

He adds that it is ungrateful to predict how prices will move in the coming period.

“We have prepared our proposal and will submit it to Gazprom, and with it we have foreseen the extension of the contract until the beginning of the new gas year, ie until October 1, under the same conditions.” That means that the price is still determined on the basis of the oil formula, and we really can’t say what it will be like at this moment, “said Glamočić, adding that Srpska consumes about four million cubic meters of gas a month.

Source: capital.ba