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Serbia’s Presiden secured 3-year gas deal with Russia during phone talks with Putin

Serbia depends on Russia almost entirely for its energy supplies

Serbia’s Presiden secured 3-year gas deal with Russia during phone talks with Putin

Belgrade, March 22 - Neftegaz.RU. Aleksandar Vucic said that he has secured an «extremely favourable» 3-year natural gas supply deal with Russia, Serbia will discuss volumes in the next few days and will sign the contract.

Belgrade’s 10-year gas supply contract with Gazprom expires on May 31.
The new gas deal is likely to be signed during a visit by Russian Foreign Minister Sergey Lavrov to Belgrade early in June
Vucic said:
  • Serbia needs larger quantities of gas, but if I may say so, we will have a safe winter and further talks will determine how much gas will cost us
  • Serbia will continue to buy Russian gas at a price determined by a similar formula to the existing one, which is linked to global oil prices
  • The price is expected to be $340-$350 per 1,000 m3 of gas
  • That is not the final price because it will depend on the quantity that will be delivered
Since the start of 2021, Russian gas supplies to Serbia have been delivered via the Turkish Stream pipeline to Turkey and onshore pipeline infrastructure in Bulgaria.

Russia’s deal with Serbia follows after Moscow cut off gas exports to EU members Finland, Poland and Bulgaria.
Cutoffs to other European countries are possible if they refuse to pay in rubles.

In recent days, Putin said that Russia will continue to supply gas to Italy and Austria in line with contract obligations, after phone calls with the countries' leaders.

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