March 28 (SeeNews) - Serbia's state-owned natural gas monopoly Srbijagas has agreed to cooperate with Russia's Gazprom in the fields of science and technology, including the potential expansion of the Banatski Dvor underground gas storage.
According to the Russian party, there are three options on expanding the gas storage, which might reach up to 2 billion cu m from 450 million cu m presently, a statement published on Srbijagas website on March 25 reads.
In case of expanding the gas storage capacity to 1 billion cu m, the investment will be around 70 million euro ($78.2 million), Srbijagas' chief DusanBajatovic explained.
Among other areas of collaboration mentioned in the newly signed document, are transportation, energy efficiency and alternative power sources, ecology and industrial security.
In 2013, Serbia and Russia signed a 10-year agreement for the supply of 1.5 billion cu m of natural gas per year.
Serbia imports 82% of its gas from Gazprom through a pipeline via Hungary and Ukraine, while the rest comes from domestic sources.
($=0.8955 euro)
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