Gazprom Signs First Long-Term Gas Sales Contract With Serbia
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Russia’s Gazprom OAO and Serbia’s Srbijagas JP signed a contract on natural-gas sales to the Balkan country through 2021 as Gazprom announced it may invest in gas-fired power plants in Serbia.
The first long-term contract with Serbia brings a 13 percent price cut from previous annual contracts, Alexei Miller, Gazprom’s chief executive officer told reporters in Belgrade today. Deliveries of about 1.5 billion cubic meters of gas a year would grow by 3.9 billion cubic meters when the Serb section of the Russia-backed South Stream gas pipeline is completed in 2016, he said.