Serbia is working on a new gas supply contract with Russia, promising the best price in Europe, according to Srbijagas director Dusan Bajatovic.

Srbijagas director Dusan Bajatovic announced that Serbia is negotiating a new contract with Gazprom, which will start in September and will last between three and ten years. He stressed that Europe, including Serbia, has no alternative to Russian gas to meet its energy needs at reasonable costs. Last year, Serbia imported about three billion cubic meters of Russian gas. Bajatovic also highlighted the influence of Russia, the US and China on the gas market and supported the idea of American investors buying shares in the Nord Stream pipeline company.