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The parties addressed a wide range of issues of the bilateral cooperation in the energy sector. In particular, they were focused on Russian natural gas supplies to Serbia and its storage in UGS facilities in the Republic.

As part of the meeting, Alexey Miller and Dusan Bajatovic, Director General of state-owned Srbijagas entered into a Memorandum of Understanding. The document reflects the parties’ intent to consider the ways for promoting the cooperation in gas storage, NGV sector and small-scale LNG shipments, inter alia, within sci-tech projects. Pursuant to the Memorandum, the parties will also address the possibility of the Banatski Dvor UGS expansion.

In 2013 the long-term contract was signed for Russian gas supply to Serbia in the amount of up to 1.5 billion cubic meters of gas annually for a period of 10 years.

The Banatski Dvor UGS facility (Gazprom holding 51 per cent, Srbijagas – 49 per cent), as a largest gas storage in Southeastern Europe, is essential for securing the stability of supplies to European countries. Its working gas capacity makes up 450 million cubic meters and maximum deliverability – 5 million cubic meters per day.