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Serbia’s goal is to become an energy transit corridor like it already is for transportation, said Energy Minister Zorana Mihajlović on Monday at the signing of a funding agreement for the construction of a section of the Trans-Balkan Power Corridor.
The €12.8 million contract with German KfW Bank was signed for the 109-kilometre-long section between Obrenovac and Bajina Bašta worth €60 million.
“The Trans-Balkan Corridor is a regional project of strategic importance, which means stability on the electricity market not just in Serbia but also in the region, in Romania, Montenegro, Italy. The value of construction of that corridor in Serbia is €157 million, while the total length is 321 kilometers,” said Mihajlović.
How to improve EU-Ukraine energy cooperation in 2021 UkraineAlert by Olga Bielkova
A pressure gauge is seen at an underground gas storage facility in the village of Mryn near Kyiv. (REUTERS/Gleb Garanich)
Almost exactly one year ago, Ukraine launched independent gas transportation company GTSOU and concluded a five-year transit contract with Russia. Servicing the domestic market remains the foundation of GTSOU’s business, but our commercial viability comes from international activities, which account for 80% of GTSOU’s revenue.
As we evaluate business priorities for the years ahead, it is clear that GTSOU must find a way to grow or maintain the current level of transit while increasing the range of services we offer to our international partners and introducing new technologies that will future-proof our infrastructure in light of the de-carbonization agenda.