Russia and Serbia have started working on a gas supply contract.

Gazprom and the Serbian Ministry of Energy are working on the parameters of a contract for the supply of natural gas. The Ministry of Economic Development announced this on March 20.

"For many years, Russia has been the guarantor of the Republic's energy security, remaining the main supplier of energy resources. Gazprom and the Serbian Ministry of Energy are currently working on the parameters of a contract for the supply of natural gas," TASS quoted the text of the message.

The Ministry of Economic Development added that following the visit of Minister of Economic Development Maxim Reshetnikov to Belgrade, a meeting of the intergovernmental committee on economic cooperation between Russia and Serbia is scheduled. The meeting is expected to take place at the end of April. It is reported that the parties have started planning a five-year agreement on cooperation in the fields of tourism, energy and trade.

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Serbian President Aleksandar Vucic announced on December 23 last year that Serbia had extended the gas supply agreement from Russia until March 31, 2026. He added that due to the extension of the agreement, there will be enough gas and electric energy in the country.

Prior to that, on October 21, Vucic noted that the country has no other source of gas except Russia. He explained that even if the new gas pipeline is successfully built, Belgrade will have to face the problem of significantly increasing the cost of gas by 30-40%.

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