19 Dec 2017 19:31

Russia lifts ban against re-export of gas by Serbia

MOSCOW. Dec 19 (Interfax) - Russia and Serbia have lifted the ban on resale of Russian gas to third countries contained in their intergovernmental agreement.

Energy Minister Alexander Novak signed the protocol to the September 2012 intergovernmental agreement together with the Serbian side.

The protocol deletes the provision in the agreement stating that the Russian gas supplied to Serbia is intended for consumption in Serbia (Paragraph 3, Article 4).

Re-export prohibitions have been removed from virtually all Gazprom export contracts on the order of the European Commission.

Moreover, the European Commission has required that Gazprom remove from its contracts all provisions that directly or indirectly restrict resale of gas abroad or that make resale less economically appealing, such as clauses requiring that Gazprom share in any earnings from resale of gas.