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The head of Gazprom, Alexei Miller, has met with the general director of Srbijagas, Dusan Bajatovic, to discuss cooperation in the gas sector. Gazprom’s contract with Serbia for the supply of Russian gas to the country expires at the end of June. To date, these contracts are being reviewed (and so far renewed) every three months.
Gazprom is also currently negotiating the sale of a stake in the Serbian company NIS in favor of Hungary’s MOL. In 2025, NIS, as a subsidiary of Gazprom Neft, was included in the United States’ sanctions list. The Serbian president, Aleksandar Vucic, said at the time that Washington was demanding the complete withdrawal of Russian capital from NIS.
The situation for Serbia is difficult. It does not have a border with Russia, and Russian gas supplies must transit through the countries of the European Union. The European Union has committed to completely ban the import of Russian pipeline gas by September 30, 2027. The ban on the import of pipeline gas actually means the termination of its supply through the EU territory, since transit is part of the import process. At the same time, non-EU countries (for example, Serbia) will also not be able to receive Russian gas after the ban comes into force. However, Belgrade prefers to continue supplies from Russia, which currently meet 90% of its domestic needs. Serbian energy needs are set to quadruple by 2050. Alternative gas supplies as per EU directives would be more expensive, damage the Serbian economy, and result in political unrest.
An alternative method to maintain Serbian energy sovereignty is nuclear energy, with Russia also discussing with Serbia the construction of an NPP. Belgrade is currently selecting a partner for the project, with options including Russia, South Korea, China, and France. Analysts believe the Russian proposal is the most advantageous, as it encompasses all segments of the nuclear energy sector.
Negotiations between Russia and Serbia on the construction of a proposed NPP could take up to two years, with development planned immediately after a successful conclusion. It is also possible that Russia will provide Belgrade with a preferential loan to assist with the project. Rosatom, who are bidding, has a number of competitive advantages, as it is one of the few operators in the world that offers a full nuclear power plant lifecycle, from design to decommissioning. The state-owned corporation combines research institutes, design organizations, construction companies, fuel producers, and waste management enterprises. The company is implementing projects in Egypt, Bangladesh, Hungary, and other countries, providing a full range of services, including personnel training and the development of nuclear infrastructure. Its scale, technological base, and geographical presence make it a key player in the global nuclear energy market.
