Gazprom ramping up gas supplies to Serbia

Alexey Miller, Chairman of the Gazprom Management Committee, and Dusan Bajatovic, Director General of Srbijagas, Member of the Supervisory Board of Yugorosgaz, signed today in Moscow the Addendum to the long-term contract between Gazprom Export and Yugorosgaz for Russian gas deliveries to Serbia.

The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Aleksandar Vucic, President of the Republic of Serbia.

According to the document, the amount of Russian gas supplies under the current contract will be increased from 1.5 billion cubic meters to 2 billion cubic meters per year starting from 2018.

Background

The current contract between Gazprom Export and Yugorosgaz for Russian gas deliveries to Serbia was signed on March 27, 2013, as part of the Agreement between the Government of the Russian Federation and the Government of the Republic of Serbia dated October 13, 2012. The contract will last through 2021.

In 2016, Gazprom supplied to Serbia 1.75 billion cubic meters of gas, a 4.3 per cent rise from 2015. On November 15, 2017, gas exports reached the 2016 total with 1.75 billion cubic meters. Additional volumes beyond the contracted amounts were delivered under supplementary agreements to the contract.