With much of Europe turning its back on Russian gas, Serbia has chosen a downside direction, which is to promote a new gas contract with Russian oil giant Gazprom and say it will get the best price in Europe.
The information was confirmed to the press by the CEO of Srbijagas Group - Mr. Dusan Bajatovic.
"The price problem has almost been resolved. The price will be very good, the best in Europe, Bajatovic affirmed, refusing to disclose details because negotiations are still ongoing. The new contract is expected to start in September this year, lasting 3 or 10 years.
The statement comes as the European Union has proposed a complete ban on imports of liquefied natural gas and liquefied natural gas (LNG) from Russia before the end of 2027, a deterrent move to punish Russia over the Ukrainian conflict. However, Serbia, which is conducting EU talks, is going in the opposite direction.
Bajatovic said that Europe will have to return to Russian gas late in the evening if it wants to maintain supply at an acceptable price. This is Mathematics. You cannot solve the problem of supplying gas to Europe at a reasonable price without Russian gas, he said on the sidelines of the St. Petersburg International Economic Forum. Petersburg.
He also affirmed that the future global gas market will be decided by 3 power axes: Russia and the US are producers, while China is a huge consumer. In that model, Europe will have to adapt rather than shape the game.
Serbia still receives about 3 billion cubic metres of gas from Russia each year, making it one of the few European countries that still maintains its contracts with Gazprom. The Balkan country has maintained friendly relations with Moscow despite pressure from the West.
Another surprising statement from Mr. Bajatovic was that he completely support US investors to buy back the Nord Stream gas pipeline system - a gas pipeline from Russia to Germany across the Baltic Sea that was sabotaged in 2022 and is currently not operating.
