According to the agreement that gas distributor Gas-Res has with Russian Gazprom Export, which has been signed in 2015, the price of supplied natural gas is calculated every quarter based on the oil formula.
Representatives of Gas-Res said that Gazprom did not make any additional requests for the increase of gas price, adding that the new price in calculated solely on the formula which has been used since 2015.
The formula is valid since the signing of the agreement and it safeguards the Republic of Srpska (RS) from fluctuations on the global gas markets. The agreement was valid until 30 June, but it was extended until the end of 2022.
Therefore, the wholesale price of natural gas in RS was increased by 16 % as of 1 July.
