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Serbia Extends Natural Gas Supply Agreement With Russia

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Serbia Extends Natural Gas Supply Agreement With Russia
Gas flow at minimum at Eustream gas facility near Ukrainian border. Illustrative photo. (Source: Getty Images)

Serbia has extended its contract with Russia for natural gas supplies until September 30, according to Dušan Bajatović, Director of Srbijagas.

The announcement was made by Dušan Bajatović, Director of Srbijagas, in a statement to RTS on May 26.

The current deal was set to expire this week, but the extension maintains the same terms, ensuring the delivery of six million cubic meters of gas at a fixed price of €290 (approximately $330) per thousand cubic meters.

The Director of Srbijagas stated that all public speculation suggesting something is wrong is unfounded, emphasizing that everything is in order and that Serbia has sufficient gas supplies.

"Thanks to this agreement, the gas price for households will definitely not increase, and for businesses, gas will be cheaper," Bajatović noted.

He added that the agreement enables Serbia to replenish its gas storage facilities ahead of the winter heating season.

Earlier, the European Union is advancing a comprehensive plan to end all Russian gas imports by the end of 2027, aiming to eliminate its longstanding reliance on Moscow's fossil fuels. The strategy includes phasing out remaining pipeline deliveries and long-term LNG contracts over a transitional period.

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