Bajatovic: Supplies of 10 mln cubic m of gas a day agreed with Gazprom until end-March

BELGRADE - Srbijagas CEO Dusan Bajatovic said on Thursday that, unlike Europe, Serbia would not be left without gas supplies as its government had secured sufficient stocks, and noted that supplies of 10 mln cubic m of gas a day via the Balkan Stream pipeline had been agreed with Russia's Gazprom until end-March.

"It is good that payment is due in a month. We have bought, and already paid for, six million a day from Hungary's MVM. We have 1.1 mln from Azerbaijan. And we can count on 2.5 mln cubic m of gas from Banatski dvor and an additional three million from Hungary, from gas storage facilities Serbia has bought and paid for. If I am right, that adds up to 22.6 mln cubic m of gas a day that Serbia can count on," Bajatovic told the RTS.

He said the quantity was more than sufficient as, historically, Serbia's daily gas consumption had peaked at 17 mln cubic m and that the country would have a surplus of natural gas.

"We did that on purpose, simply because we have ensured all the required capacities. That was the biggest problem and that is why the negotiations have taken so long," he said, adding that Serbia would boost its gas stocks by the end of the heating season.

Noting that Serbia had secured sufficient gas supplies until next autumn, Bajatovic said he believed a gas agreement with Russia would be extended.

"We also have some gas reserves from Azerbaijan, some LNG reserves from Greece, so Serbia cannot be left without gas. So, it is a matter of price. Therefore, this is good news for the industry. We will not be left without gas, unlike Europe. This is good news for our population as well. It is also good news for the (national power company) EPS - they can engage all the capacities they want. In cooperation with the Government of Serbia, Srbijagas has secured more than sufficient quantities of gas," Bajatovic said.