Serbia, Srbijagas is planning to establish a subsidiary in Hungary

, News Serbia Energy

Director of state-owned gas company Srbijagas Dusan Bajatovic said that the company is planning to establish a subsidiary in Hungary.

Speaking in an interview, Bajatovic said that the Bulgarian Government proposed to strategically purchase natural gas regionally for everyone, adding that it would be hard to implement such a proposal, but it is the first time someone in the region suggested it.

According to him, Serbia has a surplus of gas due to good long-term contracts, leaving 100 million cubic meters. He said that consumption was not high during the winter because Serbia does not use gas for electricity generation.

However, Srbijagas intends to fill gas storage facility in Banatski Dvor which can hold 750 million cubic meters of gas. There are also reserves in storage facilities leased in Hungary and the lease has been extended and paid for another year.

Bajatovic stressed that Serbia will have reserves between 800 and 900 million cubic meters of gas, adding that Serbia needs about 1.6 billion cubic meters for one winter season, with all consumption included.

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