Bajatovic: Agreement on Russian gas supplies likely to be extended for six months

BELGRADE - Srbijagas CEO Dusan Bajatovic said on Tuesday an agreement on Russian natural gas supplies, which expires in late March, was likely to be extended for another six months.

Speaking to the RTS, Bajatovic said the gas price for households would not be changed and that Serbia had sufficient gas stocks until the end of the heating season.

He said work on an annex to a long-term gas agreement with Russia was underway but that there were many problems - including EU sanctions and issues with payment operations - that were not easy to solve.

"From March onwards, due to large stocks - which will practically last until October - our agreement will secure 6 mln cubic metres a day, rather than ten, because we cannot fill Banatski dvor (gas storage facility). Our long-term agreement will likely be extended for another six months," Bajatovic said.