BELGRADE, May 6. /TASS/. Serbia has started negotiations with Gazprom on a new long-term gas contract, Serbian President Aleksandar Vucic said in a special address to the nation on Friday.

"As for gas, we are starting conversations with Gazprom about buying gas. We are 100% dependent on Russian gas, and it will be at least two more years, and maybe more. We want to prepare a good agreement by the end of May," Vucic said.

Earlier, Vucic said that the Serbian economy is 100% dependent on gas from Russia, so Belgrade hopes for a "good price" in the upcoming gas negotiations with Moscow. He also stressed that Belgrade has no alternative to natural gas from Russia. The long-term agreement on the supply of Russian hydrocarbons expires on May 31 this year, and the Serbian leader stressed that the republic is striving to sign a new long-term contract. Vucic assumed that the price of Russian gas for Serbia under a new long-term contract, if based on the oil formula, could range from $450 to $619.

On January 1, Gazprom began supplying gas to Serbia via a new route. Gas is transported from Russia via the TurkStream offshore gas pipeline and further through Turkey. Through the national gas transmission system of Bulgaria, it enters Serbia.