Deals

Russia, Serbia reach deal on gas price for next six months

1 minute read

Russian President Vladimir Putin attends a meeting with his Serbian counterpart Aleksandar Vucic in Sochi, Russia November 25, 2021. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS

MOSCOW, Nov 25 (Reuters) - Russia has agreed to continue selling Serbia gas at the current price of $270 per 1,000 cubic metres over the next six months, TASS news agency quoted Serbian President Aleksandar Vucic as saying on Thursday after he met with President Vladimir Putin.

Vucic asked Russia last month for "favourable" gas prices, which have jumped in recent months as global demand has recovered from the depths of the pandemic.

In an opening statement ahead of talks in the Russian Black Sea city of Sochi, Putin told Vucic he expected they could reach a deal before the existing one expires at the end of the year.

TASS news agency reported last week that Vucic sought to buy some 3 billion cubic metres of Russian gas annually for the next 10 years, covering almost all its gas needs.

Russian energy giant Gazprom has said it expects its average gas price in Europe to be more than $300 per 1,000 cubic metres this year.

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Reporting by Gabrielle Tétrault-Farber, Vladimir Soldatkin and Oksana Kobzeva; Editing by Edmund Blair, Elaine Hardcastle

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