Alexey Miller, Chairman of the Gazprom Management Committee, and Dusan Bajatovic, Director General of Srbijagas, signed today in Belgrade, Republic of Serbia, a Memorandum of Understanding on the advancement of the expansion project for the Banatski Dvor underground gas storage (UGS) fac

ility.

The signing ceremony took place in the presence of Vladimir Putin, President of the Russian Federation, and Aleksandar Vucic, President of the Republic of Serbia.

The Memorandum defines the main parameters of the UGS facility expansion and formalizes the arrangements between the parties for the joint implementation of the project.

Background

Gazprom’s main partner in Serbia is Srbijagas, a state-owned company focused on gas transportation, storage and distribution in Serbia.

The project for the expansion of the Banatski Dvor UGS facility provides for an increase in the facility’s working capacity to 750 million cubic meters (up by 300 million cubic meters) and in its maximum daily deliverability to 10 million cubic meters (up by 5 million cubic meters per day).

In 2018, Gazprom exported to Serbia 2.15 billion cubic meters of gas, a 1.2 per cent increase from 2017 (2.12 billion cubic meters).

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