South Stream construction in Serbia begins in November

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The construction of the South Stream pipeline stretch through Serbia will begin in November, head of Srbijagas Dusan Bajatovic said on Thursday, adding that everything was ready for the signing of a long-term contract on cheaper gas for Serbia from Russia.

“The contract is finished, and we are going to harmonize the price to make it lower,” he stated without specifying when the document would be signed.

The only thing left is for the two governments to verify international agreements, which is necessary in order to sign a contract on gas supply for Serbia, he told reporters.

He said the long-term contract on gas pupply for Serbia was ready for signing, adding that Russia had once already lowered its gas price to Serbia, 12 percent for 2012, and that otherwise the gas would cost USD 70-90 more.

Serbia expects more price cuts at the signing of the long-term gas contract with Russia, he stressed.