Russia, Serbia To Agree On Further Terms Of Natural Gas Supplies In Six Months - Kremlin

Faizan Hashmi Published November 26, 2021 | 05:10 PM

MOSCOW (UrduPoint News / Sputnik - 26th November, 2021) Russia and Serbia will be able to calmly and constructively agree on further conditions of the extended gas supply contract within six months, Kremlin spokesman Dmitry Peskov said on Friday.

"Yesterday we had a very wealthy, constructive, friendly and detailed conversation with (Serbian) President (Aleksandar) Vucic. The main issue for our Serbian friends is the extension of the current gas contract for six months. The price formula is fixed there. We remember that long-term gas contracts are priced according to the price formula, which is based on the price of oil and petroleum products, in particular and of course, it is fundamentally different from pricing on spot markets," Peskov told reporters.

"Therefore, for six months more, our Serbian friends will receive gas at a very, very favorable price. This will help our Serbian friends undergo the coming winter period. And during this period, calmly and constructively economic entities, as the president said yesterday, will agree on the continuation of the contract," Peskov added.