Serbia Agrees on Lower Gas Prices With Gazprom, Srbijagas Says

Serbia expects to cut the cost of gas imports by almost 10 percent this year after its natural gas monopoly signs a new contract for gas supplies from Russia next month.

Srbijagas and Gazprom OAO agreed on the gas price in Moscow last week and the agreement needs the Serbian government’s approval, the Novi Sad, Serbia-based company said in e-mailed answers to Bloomberg questions.

“On average, the price is expected to range between $380 and $390 per 1,000 cubic meters,” according to the agreement that envisages quarterly price adjustments, the company said.

Serbia, fully reliant on Russia for gas imports, was paying $421 per 1,000 cubic meters of gas on average in 2012, Dusan Bajatovic, Srbijagas’ general manager who negotiated with Gazprom, told the Belgrade newspaper Blic on Jan. 28.

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