Serbia Plans To Invest 8.0-9.0 Bln Euro in Energy Projects in Next Five-Seven Yrs

BELGRADE (Serbia), November 21 (SeeNews) – Serbia plans to invest 8-9 billion euro ($10.8-12.2 billion) in several energy projects in the next five to seven years through strategic partnerships, state-run news agency Tanjug reported.

The planned investments include the construction of 14 big and nine small hydro power stations, two thermal and two gas-powered plants and participation in the gas pipeline project South Stream, Tanjug (www.tanjug,rs) reported on Sunday, quoting the development director of state-owned gas company Srbijagas, Miroslav Malobabic.

Investors from Russia, Germany and Italy have shown interest, Malobabic said.

The South Stream pipeline, a joint project of Russian gas giant Gazprom and Italy’s Eni, will bring Russian gas to Europe across the Black Sea bypassing Ukraine. The pipeline is expected to become operational in 2015.

Serbia produces some 260 million cubic metres of natural gas annually. It imports 2.5 billion cubic metres of gas and 3.5 million tonnes of naphtha per year.

($=0.7367 euro)

Choose your newsletter by Renewables Now. Join for free!