Serbia will sign a three-year gas import agreement with Russia next month. This will ensure annual supplies of 2.5 billion cubic meters of natural gas, Reuters reports, citing the head of the state gas company Dusan Bayatovic, writes UNN.
Details
Dusan Bayatovic, head of Srbijagas, stated that Serbia has already arranged daily supplies of 2.5 million cubic meters of gas from Azerbaijan and receives an additional 9.5 million cubic meters daily from Russia.
Bayatovic also said that Serbia's only gas storage facility holds 780 million cubic meters of natural gas, with the possibility of obtaining an additional 200 million cubic meters from a storage facility in Hungary if needed.
Serbia remains one of the few buyers of Russian natural gas in Europe, even as it seeks membership in the European Union.
The government has faced pressure from Western countries to join EU sanctions against Russia over its invasion of Ukraine, but has not yet taken any action.
The country's oil monopolist NIS (NIIS.BEL), a controlling stake of which is owned by the Russian company Gazprom Neft (SIBN.MM), and Gazprom (GAZP.MM) are seeking a seventh exemption to postpone US sanctions that would jeopardize crude oil supplies.
Later on Tuesday, President Aleksandar Vučić will meet with US Secretary of State Marco Rubio to discuss, among other things, tariffs and sanctions against NIS.
Addition
Serbian President Aleksandar Vučić stated on August 13 that he does not intend to change the country's constitution to run for a new presidential term.