EU invested EUR 500mn in Serbian energy sector

Published: September 29, 2010 | Source: B92.net; Belgradenet.com |  Share / Bookmark

The EU has invested around EUR 500mn in the Serbian energy sector since 2000. This is according to Deputy Head of the Delegation of the EU to Serbia Adriano Martins, who announced that the EU will continue investing in this domain.

It is necessary to continue with modernization, increase efficiency and the use of renewable energy sources, Martins said at a meeting on energy in Belgrade. Martins assessed that Serbia should continue adjusting its energy regulations to EU legislation and directives, and improve its price policy.

Serbian Minister of Energy and Mining Petar Škundric pointed out that the price of gas in Serbia is not the highest one in the region, and added that gas is cheaper in Romania and Croatia, both of which cover half of their needs from their own sources. Škundric said that the government is planning to invest around EUR 9 billion in the reconstruction of the existing and the construction of new facilities for electricity production, and to allocate another EUR 2 billion for the gas sector, including the construction of the South Stream pipeline. The minister noted that Serbia has approved a number projects that involve electricity production from renewable energy sources. The projects are worth around EUR 2bn, according to Škundric.