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The Government of the Republic of Serbia

In the service of citizens

Regional cooperation crucial for solving problems in energy sector

Belgrade, 17 November 2022

President of the Republic of Serbia Aleksandar Vucic said today at the regional conference “Renewable energy investment opportunities in the Western Balkans” that progress in the energy sector is one of the most important issues for all governments in the region.

Vucic pointed out that numerous reforms are needed in the field of energy, as well as changes in habits and huge investments, between €16 and €30 billion in the coming years, stating that there are no easy or simple solutions, but that all this must be done.

He said that this year it was established that there are deep, fundamental problems in Serbia, not only when it comes to the diversification of gas and oil supply, but also when it comes to old technologies in thermal power plants.

We also have to connect our transmission systems much better, gas interconnectors and oil pipelines, and this is an opportunity for foreign investors, but also for all of us, to increase the level of GDP, the growth rate, while at the same time responding to a difficult challenge of maintaining fiscal stability, Vucic said.

The President also pointed out that 45 percent of the budget for next year goes to our expenditures when it comes to supplying energy, which shows how important it has become.

Deputy Minister of Energy and Special envoy of the Prime Minister of the Kingdom of Norway for Energy Andreas Eriksen assessed that regional cooperation is crucial when it comes to solving problems in the field of energy.

Norway will continue to provide energy in a reliable way, Eriksen said and noted that until now his country delivered a quarter of its gas to the EU and Great Britain, and that the goal is now to work on a new wind turbine system and that Norway already receives electricity from renewable sources, and that the green transition offers great opportunities.

Other participants in the conference are Albanian Prime Minister Edi Rama, Prime Minister of North Macedonia Dimitar Kovacevski, Prime Minister of Montenegro Dritan Abazovic and Chairman of the Council of Ministers of Bosnia and Herzegovina Zoran Tegeltija.