The President of Serbia agreed with Vladimir Putin on gas supplies

Serbia and Russia has extended the gas contract for another three months. This was announced today, March 30, by Serbian President Alexander Vucic.

According to him, today he held talks with Russian President Vladimir Putin.

"We discussed literally all aspects, and what was extremely important to me, and for that I thanked President Putin, was that we received another three—month extension of the gas contract on very favorable terms," he said during a speech at the The Presidium of Serbia.

Vucic said that "we have received gas on flexible terms and we have yet to determine the price according to the oil formula." At the same time, he noted that Serbia is likely to become the second country in Europe with the lowest gas price after Belarus, and added that he was very grateful to Vladimir Putin for this.

"I want to tell people what it looks like and why I thanked Putin. Today, gas costs about $645 per 1,000 cubic meters on the stock market, so we would pay about $690 if we calculated it that way, and we pay mostly from $320 to $330. Thus, the extension of the agreement takes place on the same terms — six million cubic meters of gas per day, they are very flexible, and if cold weather, bad days or floods come, that is, more gas will be needed, this will allow us to be able to import more. At the same time, the price remains in line with the oil formula, which means a much, much lower price than on the stock market," Vucic said.

Serbian Lide also said that he hopes for the possibility of further increasing gas supplies to Serbia from Azerbaijan.

"We already have contracts for the supply of gas from Azerbaijan... first we had 0.6 million, then 1.3 million, and now we have contracts for the supply of 2 million cubic meters of gas per day from Azerbaijan," Vucic said.

Earlier it became known about the telephone conversation between Vucic and Putin. During the conversation, topics of medicine, pharmacology, participation of Russian companies in projects in Serbia and other important issues were discussed.