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The Government of the Republic of Serbia

In the service of citizens

Serbia fulfils all obligations in energy sector necessary for EU entry

Belgrade, 21 October 2005

Serbian Minister of Energy and Mining Radomir Naumov said today that when the contract on forming the southeast European energy union is signed, Serbia will fulfil all of its obligations in the energy sector necessary for EU accession.

Radomir Naumov at today's press conference

At a press conference, Naumov recalled that the contract with the European Commission will be signed on October 25 in Athens. It will enable Serbia to make use of European funds and attract foreign investment into its energy sector, as well as into those of other western Balkan countries.

“Serbia is becoming a transit country for the transport of oil and natural gas, which is why its membership in the energy union is very important. The fact that we have achieved this will be of great significance for EU accession”, Naumov pointed out.

He stressed that the signing of the contract will not bring about higher electricity prices in Serbia and reiterated that the aim of this contract is formation of a regional energy market and investment from EU countries.

The contract on joining the southeast Europe energy union specifies the rules of behaviour in line with the EU, establishes stronger ties among the western Balkan energy sectors and creates a pan-European electricity market, in which it will be possible to trade freely, the minister explained.

Apart from Serbia-Montenegro, signatories of the contract on the electricity and natural gas market will also include Croatia, Bosnia and Herzegovina, Macedonia, Bulgaria, Romania, Turkey, Albania and the UN Interim Administration Mission in Kosovo.

EU countries especially interested in the formation of this market will also join the southeast Europe energy union and will be referred to as participant countries in the contract. These will be Austria, Hungary, Greece, Italy and Slovenia, whereas Moldova and Germany will be given the status of monitoring countries.