Russia and Serbia on Friday signed a strategic intergovernmental agreement in the oil and gas sphere for a period of 30 years, with possible prolongation every five years.
The agreement envisions a package transaction: Russia's Gazprom purchases a controlling stake in the largest national Naftna Industrija Srbije Company, builds a 400-kilometer stretch of the Southern Stream pipeline in Serbia, and completes the construction of the Banatski Dvor gas storage facility for 300 million cubic meters.
Experts estimate the total cost of the transaction at some two billion euros.