Serbia: 30MEUR loss due to the South Stream cancellation

26. January 2016. / News Serbia Energy

CEO of Srbijagas Dušan Bajatović said that the money Serbia invested in the joint project South Stream will not be refunded.

Bajatović said that the South stream project is dead and therefore will not be constructed, but sooner or later the gas from Russia will come to Serbia in a new route. He said that Russia canceled the South stream project but Serbia has no alternative for the Russian gas.

Serbia invested 30 million euro into the South stream and we will have to wait and see what will happen to that money, when Tesla project begins. Bajatović thinks that Serbia will benefit from the contract with Russia and rejects the critisism that the energy contract with Russia should be reconsidered. „We would never have gotten such a contract. We can do whatever we want with the gas, which no other country can do“ says Bajatović. He announced that the storage unit Banatski Dvor will be expanded, but its expansin will not be funded neither by the state nor Srbijagas but the company itself. He also said that the price of gas will not go up but whether it will be cheaper depends on several factors. He added that Serbia is among countries with the lowest price for gas, transmits Serbia-energy.eu

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