Serbia is currently negotiating a new long-term natural gas agreement with Russia, aiming to secure what it claims will be the most favorable gas price in Europe. According to Dušan Bajatović, Director of the state-owned company Srbijagas, the upcoming contract with Gazprom is expected to take effect in September and could last either three or ten years, depending on the final terms agreed upon.
Bajatović noted that while the pricing component of the deal is largely finalized, other contractual details are still being negotiated and remain confidential. He expressed confidence that Serbia will receive gas at rates significantly more competitive than those available elsewhere in Europe.
Highlighting the broader context, Bajatović asserted that both Serbia and other European countries will eventually have to return to Russian gas to ensure affordable energy supplies. He suggested that the global gas market will continue to be dominated by Russia and the United States as top producers, with China serving as a key consumer. In his view, Europe will need to reconcile with this reality, as securing gas without Russian imports at acceptable prices will be extremely difficult.
He also expressed support for the controversial idea of allowing American investors to acquire the damaged Nord Stream pipeline, which has remained inactive since being severely damaged by explosions in 2022.
Serbia imported around 3 billion cubic meters of Russian gas last year and continues to rely heavily on this source, even as it pursues European Union membership. This position places Serbia at odds with current EU energy policy, which is moving toward stricter limits on Russian energy imports. The European Commission recently proposed binding legislation that would require EU member states to completely phase out imports of Russian natural gas and liquefied natural gas (LNG) by the end of 2027.