site.btaSrbijagas: Supply Contract with Russia Extended for Three More Months

Srbijagas Director Dusan Bajatovic stated in the Serbian Parliament that the contract with Russia for gas supplies has been extended for the next three months and that he expects it to be extended until the New Year soon, Serbian public broadcaster RTS reported on Wednesday.

Bajatovic took part in a session of the Serbian Parliament, where the issue of providing guarantees by the Republic of Serbia for the settlement of Srbijagas' liabilities was discussed.

He stated that there are no investments without gas and added that if the interconnector with Romania and North Macedonia is not completed, if capacities towards Hungary are not increased, and if storage facilities are not completed, the price of gas will rise by at least 40%.

“I think that if you look at the European agenda, all these transmission stations and all these gas pipelines are part of the European agenda and are a prerequisite, among other things, for the opening of Cluster 3 of the EU accession negotiation chapters. In addition, these transmission stations are a condition for opening the market. Europe requires all of this,” the Srbijagas Director said.

Bajatovic also said that Srbijagas is financing investment loans independently, but a state guarantee is required in order to complete the project.