Serbia, Country expects to sign new long-term gas supply contract with Russian Gazprom by 15 May

Director of Serbian gas company Srbijagas Dusan Bajatovic said that the country expects to sign new long-term gas supply contract with Russian Gazprom by 15 May.

Bajatovic said that the first exchange of papers with the Russian gas company is expected to take place in the following days.

Last November, during his visit to Russia, Serbian President Aleksandar Vucic agreed 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. He added that the country will save up to 300 million dollars, considering the difference between the agreed price and current market price in Europe.

However, in recent interview, he said that Serbia would accept up to 400 dollars per 1,000 cubic meters in the new deal.

Last year, Serbia imported around 1.3 billion cubic meters of Russian gas, which is a 37 % decrease year-on-year. President Vucic said earlier that the volume of Russian gas imports could be increased to 3 billion cubic meters per year.