Serbia, Country agreed new three-year gas supply contract with Gazprom

, News Serbia Energy

Serbian President Aleksandar Vucic said that he has agreed new three-year natural gas supply agreement with Russia in his conversation with Russian President Vladimir Putin.

President Vucic announced that the stable supply of gas for the next winter has been secured and, based on further negotiations with Gazprom, a price would be determined, adding that the price during the winter season would be more than ten times lower than for other European countries.

He said that the price of supplied gas is based on the oil formula, which means that in winter, when oil prices are the highest, the price of Russian natural gas supplied to Serbia will be between 310 and 410 dollars per 1,000 cubic meters.

This price is valid for the first 2.2 billion cubic meters of gas per year. For additional 800 million cubic meters, which Serbia will need the gasification of the industry, the price will be agreed at a later date.

Currently, Serbia has 10-year gas supply agreement with Gazprom which is about to expire on 31 May. Last November, during his visit to Russia, President Vucic made a deal, according to which, the price of natural gas supplied to Serbia in the next six months will be 270 dollars per 1,000 cubic meters.

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