Bajatovic: No gas price hike for households, lower rates expected for businesses

He said that there will be no gas price increases for households, while prices for businesses will be even lower under the new arrangement.

The existing contract on natural gas deliveries was due to expire this week, but the annex signed on Friday has extended the natural gas supply deal until the end of September.

“On Friday, we signed an annex to the existing contract extending the same terms until September 30. We secured six million cubic meters of gas per day at the price of 290 euro per thousand cubic meters,” Bajatovic told the RTS.

“We are aiming to secure a stable daily supply of eight million cubic meters, with an additional four million in reserve. However, there are logistical challenges because everyone is competing for the same sources. We will be able to get those four million at the best possible price, but we will have to take part in auctions. What we haven’t secured yet is a guarantee from the Russians that they can supply that reserve amount at any time,” said Bajatovic.

He noted that public speculation suggesting that something is wrong is entirely unfounded, adding that everything is in order, and that Serbia will have enough gas.

Brussels is announcing new sanctions that would also include Russian gas. Hungary has already warned the European Union that such a move would have serious economic consequences for several European countries.

“The US cannot supply large quantities of gas, and the biggest issue will arise if all financial channels are cut off. I will repeat what I have been saying for years: without Russian gas, there is no stable supply solution,” Bajatovic emphasized.