Serbia secures 500M more cubic meters of gas from Hungary

BELGRADE, Serbia

Serbia purchased 500 million more cubic meters (over 17.6 billion cubic feet) of gas from two Hungarian companies for €250 million ($252 million), according to an official announcement on Sunday.

"We managed to secure an additional 500 million cubic meters of gas," Finance Minister Sinisa Mali said, adding that Belgrade had "already paid an advance of around €250 million."

The gas would be stored in two facilities in Hungary until Oct. 1, he noted, after which 3 million cubic meters of that gas would be available per day until February.

In late May, Hungary announced that it would allow Serbia to store natural gas in its storage facilities for the winter.