Greater energy security requires regional cooperation – Gas supply most challenging

The participants at the panel Energy Situation in the Region, as part of the 17th Serbian Economic Forum, agreed yesterday that plenty of challenges regarding energy security lied before Serbia and the entire region, but also that it was necessary for the region to give a strong response and to have a single policy.

– We should cooperate far more and look for common positions through joint projects and interconnections, whether in the gas system or elsewhere – said Minister of Energy of Serbia Aleksandar Antic.

The biggest challenge in the present and in the future will be gas supply, he pointed out and reminded that Serbia had only one supply route at the moment – from Hungary.

– Considering the miscommunication between Gazprom and Ukraine, the need for solutions to be found is clear. We are walking in the right direction and we have several projects in progress at the moment – Antic said.

In that context, he mentioned the gas interconnector with Bulgaria, and, as he says, the interconnection with Romania, the biggest producer of gas in the region, is also being seriously considered. There's also the Turkish Stream, and, as the minister says, Serbia has a great interest in having the said pipeline cross its territory.

– When it comes to electric energy projects, the Trans-Balkan Corridor is our priority – Antic said and pointed out that Serbia places focus on increasing the production of electric energy.

He also emphasized that the electricity market was very important for the region.

– All countries rushed to open their electricity markets, but they are not serious and have no impact on energy security. Our idea is to create a regional market – Antic said.

Theodoros Kitsakos, CEO of the Greek gas corporation DEPA, also emphasizes that the region can achieve success only if unified and says that the region needs 60 billion cubic meters of gas.

– Europe consumes 13% of the global needs for gas, and its reserves amount to 1% - he says and adds that a gas stream from other sources is therefore urgently necessary.

He said that Greece invited the Serbian government to get involved in the project of the gas terminal in Alexandroupoli.

Kirill Tyurdenev, CEO of NIS, said that the company was interested in stable gas procurement in Serbia, and, regarding the oil industry, he emphasized the importance of stable prices, without big jumps, in order for the company to be able to develop and supply the consumers.

Ministarstvo rudarstva i energetike Republike Srbije

NIS a.d. Novi Sad

Gazprom Moscow

Ministry of Energy

Serbian Economic Forum

Energy Situation in the Region panel

DEPA gas corporation Greece

Naftna Industrija Srbije

NIS

Gazprom

energy security in the region

Aleksandar Antic

Theodoros Kitsakos

Kirill Tyurdeneve

gas interconnectors

Turkish Stream pipeline

Trans-Balkan Corridor

electricity market

regional electricity market

Alexandroupoli gas terminal

price of oil