Director General of Srbijagas Dusan Bajatovic says if oil prices rise to $130 per barrel, the global economy may collapse. Bajatovic notes that soaring inflation will hurt both the Serbian and European economies. On top of that, oil prices hiking above $130 per barrel are likely to cripple the global economy. However, the Srbijagas director underlined that the cost of gas for Serbians would stay unchanged until May 31, 2022. Nevertheless, natural gas prices may increase starting from June 1, 2022. “We’re already in talks with Gazprom. The price will be at least 30% less than the original market price,” Bajatovic claimed. In November 2021, Russia set prices for natural gas exported to Serbia at $270 per 1,000 cubic meters. This price was established for six months. The country will be granted long-term contract conditions. Serbian President Aleksandar Vucic described this measure as “exceptional.” Earlier, Vucic announced that Serbia had saved $1 billion from that contract. According to analysts, the world economy may plummet considerably if the crisis in the gas industry persists. Besides, gas prices are skyrocketing now in the global energy market. The use of gas is becoming an economic burden and the world will face a serious crisis.
