Serbia extended gas imports from Russia

Serbia has secured the continuation of Russian gas supplies for the next three months following talks between President Aleksandar Vučić and his Russian counterpart, Vladimir Putin.

The agreement maintains existing price and volume conditions, with Serbia set to receive around six million cubic metres of gas per day at a price of roughly $320 – $330 per 1,000 cubic metres.

Vučić described the terms as favourable, saying they would ensure stable supplies while allowing flexibility to meet any increase in demand.

Russian gas accounts for up to 90 per cent of Serbia’s consumption, although Belgrade has sought to diversify its sources in recent years, including through supplies from Azerbaijan and access to liquefied natural gas terminals in Greece. However, efforts have been complicated by tensions in global energy markets, with the war in Iran cited as a factor reducing spare capacity in Europe.

Serbia also continues to cooperate with Gazprom on gas storage and faces indirect consequences from US sanctions, which have had an impact on its energy sector.

(reuters, pir)