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Serbia has already reserved 300 million cubic meters of gas in the LNG terminal in Alexandroupolis

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The general director of Srbijagas, Dušan Bajatović, said today that Serbia has already reserved 300 million cubic meters of gas in the LNG terminal for liquefied natural gas in the Greek port of Alexandroupolis.

Bajtović said that our country will diversify its sources of gas supply, considering that, in addition to the two billion cubic meters of gas that we buy from Russia based on the oil formula based on the agreement between the President of Serbia,Aleksandar Vučić, and the Russian President, Vladimir Putin, Serbia needs another billion cubic meters of gas in order to were completely safe in every way and could produce electricity.

The head of Srbijagas told Prva television that there is little gas pipeline capacity in Bulgaria from Varna to Sofia and from Belgrade to Niš and that it will have to be expanded in order to procure gas from that direction as well.

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“So we will do a big expansion in the coming years. We will actually have the possibility to procure gas from the Austrian Baumgarten hub, then through Hungary, Bulgaria and Greece. We will also have access to the Greek LNG terminals Revitauzo and Alexandroupolis. I think the terminals will be finished this year and that we can already have some effects. Maybe we can squeeze something out of the TAP (Trans-Adriatic) and TANAP (Trans-Anatolian) gas pipelines,” Bajatović said.

He mentioned that he doesn’t know if we’re able to sign any long-term contracts, but that we might be able to take some surplus from traders that comes from balancing the system or if some companies go bankrupt, so no one takes that gas.

“When the LNG terminal Aleksandropolis starts, we as Serbia have already reserved 300 million cubic meters,” said Bajatović.

He added that, in addition to the gas we buy from the Russians according to the oil formula, we bought an additional 600 million cubic meters, as he said, something from the mix with the Russians, which amounted to 70 percent of the stock market price of TTF, and 30 percent according to the oil formula. 

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“It was a slightly lower price than the stock market price, we also bought something on the stock market, which we primarily stored in Hungary.

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