Serbia extends Russia gas deal to year end at 318 euros per 1,000 cubic meters

Serbia and Russia agreed to extend their natural gas supply agreement for three months until the end of 2026, according to the Serbian state broadcaster RTS. The deal will continue on the same favorable terms.

Price and context

Dusan Bajatović, head of Serbia's state gas company Srbijagas, confirmed the extension. Without it, the agreement would have lapsed on Wednesday. Serbian President Aleksandar Vučić, who announced his resignation on Sunday, spoke by phone with Russian President Vladimir Putin on Saturday and expressed hope that the gas deal would be renewed. Vučić noted that Serbia would continue to pay a price of 318 euros per 1,000 cubic meters of gas, compared to the current market price of 868 euros — a difference of 550 euros.

Dependence and diversification

Belgrade remains heavily reliant on Russian gas imports. The previous three-year contract expired in 2025 and Serbia has since relied on short-term extensions. Earlier this year, Vučić stated that Serbia was diversifying its energy supply away from Russia and was negotiating gas purchases through EU mechanisms — though the latest extension signals continued dependence on Moscow for affordable energy.