Sitemap

Serbia and Romania Sign Agreement for Major Gas Interconnection Project

Official Conclusion of the 32nd Kopaonik Business Forum

The 32nd Kopaonik Business Forum has officially...

Germany’s Military Spending Boosts Markets

As Germany bypasses its fiscal limits to...

CEBAC Signs Charter Partnership for Equality

In a significant move toward advancing equality...

56th International Motor Show

Driving Serbia’s Automotive Future

As the 56th International Motor Show approaches...

CorD Recommends

Galenika’s Bold Expansion

From humble beginnings to global reach, Galenika's remarkable growth under Brazilian ownership demonstrates the power of strategic investments, innovation,...

EU Responds to US Tariffs with New Trade Measures

The European Union has swiftly imposed retaliatory tariffs on US industrial and agricultural products in response to Washington’s decision...

X Network Hit by Massive Cyber Attack

X Network, formerly known as Twitter, has been hit by a significant cyber attack, according to Elon Musk. The attack...

Serbia’s Investment Boom Faces Challenges

Serbia's economic model, built on foreign direct investment (FDI), reached a historic milestone in 2024. The country saw a record...

Wall Street’s Sharpest Drop Since September

Trump’s trade policies and weak economic data trigger sharp US market decline, while European stocks gain momentum. US stock markets...

In a significant move towards enhancing regional energy security, Serbia’s Minister of Mining and Energy, Dubravka Đedović Handanović, and Romania’s Minister of Energy, Sebastian Burduja, have signed a memorandum of understanding for a gas interconnection project. This strategic initiative aims to connect Serbia’s Mokrin hub with the BRUA pipeline at Petrovaselo, east of Timișoara in Romania, providing Serbia with a new source of natural gas.

The agreement outlines a capacity of at least 1.6 billion cubic meters per year for the two-way gas pipeline, which will span 13 kilometers in Serbia and 86 kilometers in Romania. The Serbian segment is slated for completion by 2027, with the entire project expected to be operational by 2028.

“We aim to commence construction next year, ensuring this project becomes a reality by 2028,” Minister Burduja stated at the signing ceremony in Kladovo, situated on the Danube opposite Romania. The interconnection site will be located at the northern border between the two nations.

Minister Đedović Handanović emphasized that this marks a new phase in the long-standing bilateral energy cooperation between Serbia and Romania, which has spanned over five decades. She highlighted that electricity trade constituted 28% of their trade exchange last year.

“By connecting with Romania and Bulgaria, and soon with North Macedonia, Serbia is positioning itself as a crucial transit country and a key partner in ensuring the energy security of Central and Eastern European nations regarding gas supply,” Đedović Handanović asserted.

Romania, which produced almost 30% of the European Union’s gas in the first quarter, has ambitious plans to boost its output further. Minister Burduja revealed that the Neptun Deep offshore gas project in the Black Sea, an investment of EUR 4 billion, is set to double Romania’s gas production from 2027. Additionally, intensive drilling at the Caragele onshore site, backed by a EUR 200 million investment program, is expected to reach full capacity this year.

Burduja also noted that Romania’s transmission system operator, Transgaz, is swiftly completing the segment from the Black Sea coast at Tuzla to Podișor in the south, the final piece of the BRUA project. The pipeline, named after Bulgaria, Romania, Ukraine, and Austria, will transport gas from offshore platforms to the western border.

Furthermore, Burduja highlighted Romania’s promotion of the Vertical Gas Corridor, an initiative to connect Greece, Bulgaria, Romania, Hungary, Slovakia, Moldova, and Ukraine, offering alternative gas supply routes beyond Russia.

Read more...

Serbia’s EU Integration Faces New Delays

Serbia's progress towards European Union integration has encountered significant delays, with anticipated milestones such as the opening of Cluster 3 (Competitiveness and Inclusive Growth)...

Galenika’s Bold Expansion

From humble beginnings to global reach, Galenika's remarkable growth under Brazilian ownership demonstrates the power of strategic investments, innovation, and global partnerships. Since becoming part...

The ministers also discussed the ongoing power interconnection project between Reșița in Romania and Pančevo in Serbia, set to be completed next year as part of the Trans-Balkan Electricity Corridor. Additionally, they addressed the Đerdap 3 pumped storage hydropower plant project, a continuation of their shared hydropower efforts on the Danube with the Đerdap 1 and 2 (Iron Gate) complexes.

This agreement not only strengthens bilateral ties but also underscores the growing importance of regional cooperation in achieving energy security and sustainability in Southeast Europe.

Related Articles

Serbia’s Investment Boom Faces Challenges

Serbia's economic model, built on foreign direct investment (FDI), reached a historic milestone in 2024. The country saw a record $5.8 billion in FDI inflows,...

CEBAC Signs Charter Partnership for Equality

In a significant move toward advancing equality in Serbia’s corporate sector, the Council of European Business Associations and Chambers of Commerce in Serbia (CEBAC)...

56th International Motor Show

Driving Serbia’s Automotive Future

As the 56th International Motor Show approaches in Belgrade this March, Serbia’s automotive industry stands at a pivotal juncture. The event not only showcases...

Art

Serbian Embroidery Timeless Art and Heritage

Exploring the rich cultural legacy of Serbia’s exquisite needlework Serbian embroidery is a centuries- old craft that represents far more than just decorative needlework. It...

Serbia’s ICT Export Boom

Serbia’s information and communications technology (ICT) sector has shattered records in 2024, with exports soaring to €4.13 billion—an impressive 20% increase from the previous...

Novi Sad’s Ambitious Leap Boosted by Elleven

Novi Sad is setting the stage for a new era in business and innovation with the development of Elleven, an A-class office building that...

The Grand Reopening of The Bristol Belgrade

The Bristol Belgrade has officially reopened after an extensive two-and-a-half-year restoration, seamlessly combining its storied past with modern luxury. Renowned for its architectural splendor, the...

AgroBelgrade 2025 – A Hub for Innovation and Trade in Agriculture and Horticulture

Over 500 exhibitors will converge at the three-day AgroBelgrade 2025, bringing together the best of Eastern Europe’s fruit, vegetable, and vineyard industriesThe sixth edition...