September 06, 2008

Serbia to start gas agreement discussions with Russia

Interfax reported that Serbian legislators will start discussing the ratification of an oil and gas agreement with Russia at a parliamentary session on April 24th 2008.

The report added that the current Serbian government, which is only carrying out technical functions because of early elections slated for May failed to approve an agreement on cooperation in the oil and gas sphere with Russia on April 3rd 2008. The agreement was signed in Moscow on January 25th 2008.

The Russian-Serbian agreement on cooperation in the oil and gas sphere envisions the construction of a branch of the South Stream gas pipeline in Serbia, the construction of an underground gas storage facility and Gazprom Neft's acquisition of a 51% stake in the Naftna Industrija Srbije.