Bajatović said on Serbian TV Pink that energy cooperation with Russia brings “a lot of stability and flexibility” to Serbia, and gas is purchased much cheaper than on the market.
Why is Serbia extending the contract for Russian gas?
How long does it take to extend a gas contract?
What benefits does Serbia see in cooperation with Russia?
Does Serbia plan to diversify gas sources?
Due to Russia's invasion of Ukraine and European Union sanctions targeting the Russian energy sector, Belgrade has in recent months started working on diversifying supplies by building new gas pipelines and searching for new partners.
Nevertheless, over 80 percent the country's gas demand is still covered by Russian raw materials.
Serbia will also buy American LNG
Serbia also buys gas from Azerbaijan through Bulgaria, and construction of a gas pipeline to North Macedonia, which would provide access to liquefied natural gas from Greece, should start this year.
On Tuesday, Belgrade joined an American initiative aimed at strengthening the region's energy supply. Serbia and 12 other countries signed a joint declaration in Washington on strengthening the security of natural gas supplies in Central and Eastern Europe, the Balkan editorial office of Radio Free Europe reported on Wednesday.
Bajatović admitted that signing the document does not mean that Serbia can count on lower energy prices, but “perhaps on more stable supplies.” He added that Serbia will buy American LNG, which, however, will not be cheaper than the currently imported gas.
