Caspian Energy Journal Caspian European Club
Saturday, 29 August 2015 18:00

Energy market development important for energy stability of region

Prime Minister of Serbia Aleksandar Vucic stated on August 27 inVienna that the opening and development of the energy market is very important for energy stability not only of Serbia, but of the entire region, Caspian Energy News ( reports with reference to the press service of the Government of Serbia.

Speaking at a meeting held after the Western Balkans Summit, Vucic said that the process of European integration is extremely important for Serbia, and in this respect underlined that Serbia was among the first ones to sign the agreement on establishing the Energy Community.

The opening and development of the regional market is a process that has begun and should allow for business in the energy system under market conditions, he said and added that, thanks to its geographical position, the transmission power system of Serbia is crucial for a good connection electricity and gas in the region.

Speaking about the priorities of Serbia, Vucic pointed to the Trans-Balkan corridor, whose realisation would fulfil three objectives from European directives, and these are the increase of security of supply, the integration of the production of renewable energy sources and the establishment of a European internal market.

According to him, the fourth goal, which is of great importance for the region, is the construction of a 400 kV substation between Bosnia-Herzegovina, Montenegro and Serbia, which is worth €48 million, and whose implementation is expected in 2018.

A priority project for Serbia is construction of a gas interconnection with Bulgaria, the Prime Minister said and stressed that our country, except for supply from Berehove, has no alternative flows of gas supply.

In this context, Vucic explained that Serbia cannot implement that project alone, without the help of the EU.

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