SEATTLE (Oil Monster): Serbia declared that it had renewed its agreement with Russian Gazprom for the supply of natural gas until the end of September of this year. The extension is granted just before the current contract's May 31 expiration date.
An annex to the current long-term contract between the two parties has been signed, according to Dusan Bajatovic, director general of Srbijagas, a state-owned gas importer and distributor. In May 2022, a three-year contract was signed with the Russian energy company, with the goal of delivering up to 2.2 billion cubic meters (bcm) of gas annually.
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Serbia stated earlier this month that it hopes to strike a new ten-year agreement with the Russian major for 2.5 billion cubic meters of gas per year. The St. Petersburg International Economic Forum, which is planned for June of this year, will host the next round of discussions for the new gas supply contract.
In order to finalize an agreement with Socar, the state-owned national oil and gas corporation, regarding gas supply to Serbia, Bajatovic plans to visit Azerbaijan shortly. Serbia and Azerbaijan struck an agreement earlier in November of last year to provide Serbia with up to 400 mcm of Azeri gas annually between 2024 and 2026. Additionally, Srbijagas struck an agreement in September of last year to purchase an extra 1 mcm of gas supply daily from Azerbaijan.