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Contract on Southeast Energy Union to be ratified by mid-2006
31 March 2006
Belgrade, March 31, 2006 –Serbian Minister of Energy and Mining Radomir Naumov said today that Serbian parliament should ratify the Contract on the Southeast Europe Energy Union by the middle of the year. The contract was signed on October 25, 2005.
Author:
Tanjug
At a public discussion themed "Contract on formation of Southeast Europe energy union, tasks and possibilities of electric power system in Serbia", Naumov pointed out that the Energy Union will enable the setting-up of a security system because the contracting parties would help each other whenever a crisis occurs. The discussion was held at the Faculty of Mechanical Engineering in Belgrade and was organised by the Serbia-Montenegrin Association of Thermal Energy Producers.
The minister pointed out that the contracting parties would have access to international financial funds. He added that the planned investment in electric power systems in southeast Europe in the next 15 years is around $20 billion, while the annual energy union membership fee for Serbia will be between €60,000 and €70,000.
According to Naumov, Serbia will contribute 0.7% of the funds to the energy union budget, while the EU will have the largest participation in it.
The contract on joining the energy union has so far been ratified by Bulgaria, Romania and UNMIK.
The minister pointed out that the contracting parties would have access to international financial funds. He added that the planned investment in electric power systems in southeast Europe in the next 15 years is around $20 billion, while the annual energy union membership fee for Serbia will be between €60,000 and €70,000.
According to Naumov, Serbia will contribute 0.7% of the funds to the energy union budget, while the EU will have the largest participation in it.
The contract on joining the energy union has so far been ratified by Bulgaria, Romania and UNMIK.
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