Energy ministers of Serbia, Greece, Bulgaria and North Macedonia agreed at the Regional Energy Summit to invite Romania to join their platform, amid the development of the Vertical Corridor for gas and other joint efforts. Acting Minister of Mining and Energy of Serbia Dubravka Đedović Handanović revealed that works are beginning next week on the gas interconnection with North Macedonia. The two countries are considering the possibility of extending the oil derivatives pipeline running from Thessaloniki to Skopje.
Ministers of energy of Serbia, Greece, Bulgaria and North Macedonia gathered in Belgrade at their second Regional Energy Summit, with an ambition to make it a regular meeting. Today’s event was dubbed Energy Security for Stronger Region.
Together with top officials from the national gas and electricity transmission system operators (TSOs), the ministers discussed ways to strengthen cooperation, focusing on diversifying energy sources and supply routes, regional connectivity and developing the region as a crucial energy transit corridor for Europe.
Vertical Gas Corridor’s side branch due for completion in 2028
The ministers welcomed the inclusion of Serbia and North Macedonia into the Vertical Gas Corridor through their gas transmission system operators. Acting Minister of Mining and Energy of Serbia Dubravka Đedović Handanović revealed that next week the works are starting in on the interconnection with the southern neighbor.
It is scheduled for completion in the first quarter of 2028, but it depends on expropriation, she pointed out. North Macedonia plans to finish its side by the end of the same year.
The Greek section of the corridor’s branch is due to come online by the end of 2026, followed next year by the North Macedonian part of the link to Greece. North Macedonia currently only has a gas interconnection with Bulgaria.
Greece’s export capacity is expected to reach 9.5 billion cubic meters by 2027, the Serbian ministry said.
Đedović Handanović warns of energy price spike
“We have agreed that the next summit will be held in Sofia and that we will invite representatives from Romania to join us in the future, as we believe it is also an exceptionally important country for regional connectivity and supply stability, allowing us to hold discussions in forums like this, including companies from the sector,” Đedović Handanović stated.
Serbia has record gas reserves – 707 million cubic meters – and rising, she added.
“The situation ahead of the winter season is highly critical, closely resembling 2022, at least regarding energy prices or price growth. We witnessed gas prices surpassing EUR 780 per thousand cubic meters, crude oil hovering around USD 100 per barrel, and electricity prices fluctuating between EUR 180 and EUR 220 per MW,” the minister asserted.
Fuel supply pipeline from Thessaloniki seen reaching Niš in Serbia
Đedović Handanović also warned that diesel fuel prices have reached USD 1,370 per ton in the Mediterranean.
On that note, Serbia and North Macedonia are considering the extension of the fuel pipeline running from Thessaloniki in northern Greece to Skopje. The former oil interconnection was refurbished and put back into operation last winter. The extension would reach Niš, Serbia’s third-largest city.
North Macedonia’s Minister of Energy, Mining, and Mineral Resources Sanja Božinovska said her country is willing to be part of a feasibility study for the derivatives supply line project.
In addition, she noted that the gas pipeline would be hydrogen-ready.
Central Europe to require 20 billion cubic meters of gas
Greece’s Minister of Environment and Energy Stavros Papastavrou highlighted the significance of regional cooperation for energy security and affordability.
He recalled that 11 TSOs from nine countries of Southern and Central Europe agreed in Thessaloniki a month ago to include Serbia and North Macedonia in the Vertical Corridor initiative.
Central Europe will need an additional 20 billion cubic meters of natural gas per year, he underscored.
Petrova: Maybe we will talk soon about hydrogen, CO2, transmission, digital infrastructure
Energy security is a matter of economic security, resilience and regional security, according to Minister of Energy of Bulgaria Iva Petrova.
“Today we talk about gas, we talk about electricity. Maybe in the near future we will talk about hydrogen, CO2, transmission infrastructure, digital infrastructure,” she stated.
As for the Vertical Gas Corridor, she said Bulgaria’s section toward Romania would be completed by the end of October. Early next year the entry capacity from Greece and the exit capacity toward North Macedonia will be increased, she added.
The four ministers discussed projects for renewables, pumped storage hydropower plants and battery storage, as well as the 2 GW East-West electricity corridor from Greece via North Macedonia toward Italy, and the Central Balkan Corridor.
