Serbia plans no gas price increase.

By bne IntelliNews January 26, 2012
Gas monopoly Srbijagas' CEO Dusan Bajatovic said that although global gas prices have been rising, there will be no increase for Serbian consumers thanks to a favourable agreement with the Russian supplier, news agency Tanjug reported. Bajatovic told reporters that Serbia has received a 12% discount under a recent contract inked with the Russian partner prior to the signing of a 10-year gas supply agreement, and this discount has cushioned the impact of rising international prices in Serbia. Bajatovic said that talks on agreeing the 10-year deal will continue in February and did not rule out a possibility for an additional price reduction. He added the first draft of the 10-year gas supply contract is expected by the end of March. The document will be then sent to parliament for ratification before it is officially signed. Bajatovic also said Serbia is in talks with Hungary for cutting gas transport fees. The Russian gas flows to Serbia via Hungary. Under the EU directives, state-owned Srbijagas has the option to lower its gas transport costs via Hungary and if the Hungarian side does not agree on this, the Serbian company will seek an arbitrary in Zurich.

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