Serbia plans to buy 3 billion cubic meters of Russian gas per year for 10 years – Vucic – Business & Economy
BELGRADE, November 17. / TASS /. Serbia plans to buy 3 billion cubic meters of Russian natural gas per year for 10 years, Serbian President Aleksandar Vucic said on television on Tuesday.
âCurrently, as part of our long-term contract, we are buying gas for $ 270; just imagine the price skyrocketing to $ 900. We currently have 161 million cubic meters of gas in our storage facilities; we have already spent 100 million cubic meters [since the beginning of the crisis]”, said the Serbian leader.” Until then, investments depend on it. We will now ask President Putin to supply us with at least 3 billion cubic meters per year for 10 years. ”
âFurther complications arose today: German authorities suspended the certification of Nord Stream 2, and gas prices went from $ 960 to $ 1,140,â Vucic said, noting that the price of electricity on the European market is currently 250 euros per MW. / h while in Serbia it remains at 50 euros.
On January 1, Vucic launched the Balkan Stream gas pipeline in Serbia, which brought gas to the republic from Russia. The Serbian part of the pipeline is an extension of one of two Turkish Stream pipes (launched on January 8, 2020), which supply gas to Turkey, followed by Bulgaria, Serbia and Hungary. The Serbian gas pipeline is 403 km long and has a capacity of 13.9 billion cubic meters per year.
Previously, Vucic had mentioned his intention to discuss the gas price for Serbia during his meeting with Vladimir Putin on November 25. According to the Serbian leader, the initial proposal included a formula setting the price of gas between $ 780 and $ 790 per thousand cubic meters. He admitted that the republic would not be able to support such a price. On October 7, Russian Deputy Prime Minister Yuri Borisov said he hoped the long-term gas contract for Serbia would be signed before the end of 2021.