Vucic and Putin Meet in Sochi, Will Talk Natural Gas Prices | Beta Briefing

Vucic and Putin Meet in Sochi, Will Talk Natural Gas Prices

Source: Beta
Archive / News | 25.11.21 | access_time 11:56

Vucic, Putin (Alexei Nikolsky, Sputnik, Kremlin Pool Photo via AP)

On Nov. 25, Serbian President Aleksandar Vucic and Russian President Vladimir Putin are meeting in Sochi to discuss a number of important issues, including the price of Russian natural gas.

Also on the agenda are the issue of Kosovo, the overall situation in the Western Balkans, global politics, as well as joint Serbian-Russian projects and economic collaboration. In the weeks leading up to the meeting, Vucic repeatedly underscored its significance and stated that the most important topic on the agenda would be a long-term contract for the delivery of Russian gas to Serbia.

Vucic said on multiple occasions that he would ask Putin to support Serbia's economic development by supplying the country with gas at an affordable price. Nearly completely reliant on gas from Russia, Serbia is approaching the end of its contract with Gazprom at a time when gas prices have soared.

While the cost of 1000 cubic meters of natural gas is USD1000 on the market, Serbia, as per its current contract, is paying USD270. At a new price of USD500 per 1000 cubic meters of gas, the country would still suffer 600 million euros in losses annually, Vucic said in Belgrade on Nov. 24.

Following his arrival in Sochi, the Serbian president said that he and Putin would be speaking alone to minimize the possibility of spreading the Covid-19 virus.

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