Bloomberg: Serbia wants to reduce dependence on gas from Russia

Serbia is exploring the possibility of expanding gas ties with neighboring countries in order to reduce dependence on supplies from Russia and create a regional transit hub, writes Bloomberg.

At the moment, the republic is building an interconnector with Bulgaria worth almost $100 million, which will provide imports from Central Asia and LNG terminals in the Mediterranean. According to Energy Minister Dubravka Djedovic, Serbia also plans to connect to North Macedonia and Moldova.

“We do not have enough resources of our own, at least when it comes to gas, but everything that can reduce dependence on Russia in the gas segment is important to us,” the minister said.

At the same time, Serbia intends to maintain deep ties with Gazprom, which supplies gas to the republic at below-market prices via the extension of the Turkish Stream launched in 2021, the OAN stressed. In addition, the subsidiary of Gazprom is a co-owner of the Serbian gas storage facility Banatsky Dvor, andGazprom Neft” operates the only NIS refinery in Serbia, Bloomberg notes.

On August 27, Serbian President Aleksandar Vucic said that Serbia annually buys 2 billion cubic meters from Russia. m of gas, providing 63% of the country’s gas needs, but imports it at a “fantastic” price. According to Vučić, the country consumes 3.2 billion cubic meters every year. m of gas, most of this volume is supplied by Russia at an average price of $400 per 1,000 cubic meters. m of gas.

Previously Vucic again declaredthat Belgrade does not intend to join the sanctions against Russia as long as it does not threaten the vital interests of the republic. The EU countries have repeatedly criticized the Serbian authorities for their unwillingness to join the sanctions against Russia. In June, MEPs adopted a resolution requiring Belgrade to join the EU sanctions.