Overview
Source: gazprom.com
A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Aleksandar Vucic, President of the Republic of Serbia, took place in Belgrade today.
The parties expressed deep appreciation for their bilateral relations, noting the continuously developing partnership in a number of areas, including gas storage. In early June 2017, a memorandum was signed to expand the Banatski Dvor UGS facility. The facility’s capacities will be increased from 450 to 750 million cubic meters.
Gas transmission in Serbia
The meeting also touched upon the persistently growing demand for Russian gas in Serbia. According to estimates, Gazprom’s gas exports to the country between January 1 and June 26, 2017, added 47.7 per cent against the same period of 2016.
In light of the increasing gas demand, the parties discussed the development prospects for Serbia’s gas transmission capacities. As part of the meeting, Alexey Miller and Aleksandar Antic, Minister of Mining and Energy of the Republic of Serbia, inked a roadmap in the presence of Serbian President Aleksandar Vucic. The document provides for a number of measures to implement a plan aimed at expanding the Serbian gas transmission system.
Alexey Miller and Aleksandar Antic signing roadmap
Background
Gazprom’s partner in Serbia is Srbijagas, a state-owned company focused on gas transportation, storage and distribution in Serbia.
In 2015, Gazprom and Srbijagas signed the Memorandum of Understanding promoting cooperation in the areas of underground gas storage, use of gas as a vehicle fuel, and small-scale LNG, including as part of scientific & technical cooperation. On June 3, 2017, Gazprom and Srbijagas inked the Memorandum of Understanding to conduct the technical and financial feasibility studies for the expansion of the Banatski Dvor UGS facility.
In 2013, a long-term contract was inked for Russian gas supplies to Serbia for the period of 10 years. In 2016, Gazprom exported to Serbia 1.75 billion cubic meters of gas, a 4.3 per cent increase from 2015.
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