Bajatovic: Price of Gas to Increase from November, No More Than 10%

The director of Srbijagas, Dusan Bajatovic, said for RTS that the price of gas would increase from November 1, but that the increase would not be over 10%.

According to Bajatovic, the are no sufficient quantities of gas for Europe, but there are no speculation activities which happened when the price of gas reached USD 3,700 either.

– At the moment, the price of gas is around USD 300 for 1,000 cubic meters at the reference European market, plus transport, plus customs and fees if there are any. We are currently buying it at that price, practically from the Russian arrangement, but without any additional mediators and additional costs – Bajatovic said.

He pointed out that the gas price increase from November 1 depended on two things.

– The price on the market at which we can buy it and, potentially, how much money Srbijagas needs in order to be able to pay out five- and seven-year loans. That price increase will surely not be higher than 10%. The concrete amount will be calculated practically next month. It should happen from November 1 – Bajatovic noted.

He added that, although the IMF had asked for the price of gas to increase 10%, if the documents of Srbijagas could show that the increase could be lower, it would surely not damage the buyers.

JP Srbijagas Novi Sad

Međunarodni monetarni fond-MMF Beograd

IMF

Dusan Bajatovic

gas price increase

gas reserves

gas transport

gas purchase