Serbian President Alexander Vucich officially launched the Turkish Stream gas pipeline site from Russia, known as the Balkan Stream. New supplies should significantly reduce gas prices for the population and attract new investors, assure analysts.
During the official ceremony, held on the first day of the New Year, Vuchich said that the country became "much richer" thanks to the gas pipeline. According to him, the price of gas on the border with Bulgaria will be about $ 155 (without additional expenses for the internal network) compared to the current price of $ 240.
"With this thread, we can provide the inflow of investments in various regions of Serbia. Thanks to Russian president for such a "New Year's gift!" - wrote earlier the head of Serbia in his blog, noting that the gas pipeline with a length of 403 km with an annual capacity of 13.9 billion cubic meters of natural gas is part of the Turkish Stream project, launched at the beginning of 2020.
Russian gas is delivered to Turkey at the first part of the route, and the second branch stretches to the Turkish European border and reaches European consumers, including Bulgaria, Hungary and Serbia. Russian Ambassador to Serbia Alexander Botozhan-Kharchenko, who also attended the ceremony, said that the gas pipeline is one of the largest projects between the two countries. He will be able to give Serbia the opportunity to develop its own energy infrastructure and make it a transit country.
Like another major Russian energy project, the North Stream-2, the construction of which is at the final stage, the Turkish Stream gas pipeline fell under US sanctions, and Washington threatened to punish the company participating in it. Serbia, who previously received the supply of Russian gas through Hungary and Ukraine and sought cheaper imports, previously defended his right to choose suppliers and stated that Russian suppliers are most profitable for the country. Vucich also stated that "not going to pay for someone's political ambitions and rack attempts in foreign policy."