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December 28, 2009 14:39
Gazprom subsidiary extends contract on gas supply to Serbia for 2010
MOSCOW. Dec 28 (Interfax) - State SerbiaGas and Russo-Serbian trader YugoRosGaz signed documents last Friday for the supply of gas to Serbia in 2010, the Serbian company said in a statement.
The document foresees the delivery of up to 2 billion cubic meters of gas.
Dusan Bajatovic, the CEO of SerbiaGas, was cited in the statement as saying that the contract's terms are very good for his side since they factor in seasonal variations in fuel demand. The difference between the summer and winter collections, according to the contract, could increase fourfold, he said.
The contract does not foresee fines for non-collection of gas. The financial guarantees for the contract are unusually small, coming to $10 million-$15 million as it should come to $100 million-$200 million, Bajatovic said.
The contract for 2010 will continue on the same terms as before, added Vladimir Koldin, the general director YugoRosGaz (in which Russia's Gazprom (RTS: GAZP) owns 50%).
Bajatovic also said that no problems are foreseen for supplying Serbian consumers with gas next winter, including the country's leading industrial enterprises.
Serbia received 2.2 bcm of Russian gas in 2008.
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(Our editorial staff can be reached at eng.editors@interfax.ru)
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/Interfax/
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