Serbia ready to buy LNG from Greece

Serbian President Aleksandar Vucic announced his readiness to purchase large volumes of LNG from a terminal in Greece.

Yesterday, a solemn ceremony took place in the port of Alexandroupolis. construction start ceremony floating storage and regasification terminal for liquefied natural gas, which was attended by the head EU Charles Michel, Greek Prime Minister Kyriakos Mitsotakis and the leaders of the Balkan countries – North Macedonia, Bulgaria, Serbia. The project is designed to reduce the dependence of the European Union on Russian gas.

According to RIA NewsVučić had a conversation with Michel about Serbia’s “European perspective” and stated about the ceremony:

“This is a very important event for the entire region, for all the Western Balkans… We are very grateful and ready to receive large volumes of gas in the future.”

He added that Serbia should build a gas transmission system for better communication with Bulgaria, from where it will receive gas. Zorana Mihajlovic, Minister of Mining and Energy and Deputy Prime Minister of Serbia, called for a diversification of gas supply sources amid the start of construction of an LNG terminal in Greece.

Already next year, the construction of the connecting gas pipeline Nish-Dimitrovgrad with Bulgaria is expected to be completed. This will allow Serbia to receive liquefied natural gas from Greece or natural gas from Azerbaijan. The vice premier said that “there is a plan to link the gas transmission system with North Macedonia and Romania.”

Mihajlovic has previously said that suspension of gas supplies from Russia to Bulgaria and Poland does not affect Serbia. The current contract between Srbijagas and Gazprom for the supply of 6 million cubic meters of gas per day from Russia to Serbia at $270 per thousand cubic meters expires on May 31. The Serbian authorities reported that they plan to sign the next contract with the Russian side for 10 years.

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