Serbia: Lower gas prices for another year

, News Serbia Energy

Director of Srbijagas Dusan Bajatovic said in an interview that the price of natural gas in Serbia is likely to continue to fall until mid-2017.

As he pointed out, the reason for this is the decline in crude oil prices, while recent increase in oil prices will affect local gas market in nine months time. He added that the current forecasts estimate the price of oil at about 50 dollars per barrel, which would mean that the price for 1,000 cubic meters of natural gas could be around 170 dollars.

Bajatovic added that in the case that oil price rise up to 60 dollars per barrel, the price of gas would be increased to some 200 dollars per 1,000 cubic meters. If oil prices continue to rise and eventually reach 70 dollars per barrel, he estimates that the price of gas would be around 230 dollars per 1,000 cubic meters, transmits