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Dec. 29 (Bloomberg) -- Serbia agreed on new natural gas purchasing prices with Russia’s OAO Gazprom, cutting the cost for consumers in Serbia by 12 percent, the nation’s gas monopoly Srbijagas said.
The Balkan nation will be paying $478 instead of $545 per 1,000 cubic meters of natural gas in the first quarter of 2012, Srbijagas said, adding that the annex will serve to bridge the period until the two sides sign a new long-term contract.
Dusan Bajatovic, the general manager of state-run Srbijagas, said on Dec. 27 the new long-term pact will be signed in March and that Serbia plans to gradually expand imports to 5 billion cubic meters a year from 2 billion cubic meters.
--Editor: Douglas Lytle
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