RIA Novosti reported that Serbia expects Russian energy giant Gazprom to cut the price of natural gas supplies next year by a further 10%.

Mr Dusan Bajatovic CEO of Srbijagas said that under a contract signed between Srbijagas and YugoRosGaz, a Gazprom subsidiary in Serbia, the Balkan republic currently pays USD 470 per 1,000 cubic meters for Russian gas supplies or 12% less than last year. Serbia wants Gazprom to cut the price to USD 420 next year which corresponds to 10% price cut.

Mr Bajatovic said that “The cut will have no impact on the gas price for final consumers who now receive it at a price 30 percent below the market value. Srbijagas is currently owed 800 million euros while the company owes EUR 630 million to banks.

Source - RIA Novosti

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