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Contract on formation of Southeast Europe energy union signed
Belgrade/Athens,
25 October 2005
Serbian Minister of Energy and Mining Radomir Naumov said that a contract on formation of an energy union between the countries of Southeast Europe was signed today in Athens, marking the creation of the first integrated, regulatory and stable energy market.
Radomir Naumov
In a statement to the Tanjug news agency, Naumov said that the union consists of ten Southeast European countries, including Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Greece, Italy, FYR of Macedonia, Romania, Serbia-Montenegro, and Turkey, adding that these countries have accepted all current regulations regarding the energy and environmental protection sectors, as well as those concerning competition.
According to Naumov, the contract on formation of the energy union crowned nine years of work, and its signing, regarded as historic for Europe, is as significant as the day when the agreement on the formation of a steel and coal union was signed in 1951.
Naumov said that the contract on formation of the energy union, besides improving energy functioning of the entire region, should add to its economic progress, stressing its political content.
Naumov recalled that the contract’s signatories include countries in the process of accession to the EU and stressed that, in the energy sector, Serbia-Montenegro became a part of the European Union, which is highly important when it comes to investment in the forthcoming period.
The minister pointed out the plan of investing more than €21 billion in the electric power sector in the region in the next 15 years. He also said that present at the signing of the contract were Greece’s prime minister, minister of foreign affairs and speaker in the parliament, the mayor of Athens, ministers and deputy prime ministers of many Southeast European countries, as well as numerous representatives of banks and embassies.
According to Naumov, the contract on formation of the energy union crowned nine years of work, and its signing, regarded as historic for Europe, is as significant as the day when the agreement on the formation of a steel and coal union was signed in 1951.
Naumov said that the contract on formation of the energy union, besides improving energy functioning of the entire region, should add to its economic progress, stressing its political content.
Naumov recalled that the contract’s signatories include countries in the process of accession to the EU and stressed that, in the energy sector, Serbia-Montenegro became a part of the European Union, which is highly important when it comes to investment in the forthcoming period.
The minister pointed out the plan of investing more than €21 billion in the electric power sector in the region in the next 15 years. He also said that present at the signing of the contract were Greece’s prime minister, minister of foreign affairs and speaker in the parliament, the mayor of Athens, ministers and deputy prime ministers of many Southeast European countries, as well as numerous representatives of banks and embassies.
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