Member Article

Latest news reports are informing us that the European Energy Community (EC) went back on their threats of suspending Serbia's membership, after a series of fruitful negotiations between EC's representatives and the Serbian Ministry of Energy. The agreement which allowed for this development stipulates that Serbia has accepted the plan of action regarding the restructuring of Srbijagas, at the same time complying with the requirements of the Third Energy Package. On 11 October, the Serbian government issued a decree that is binding all gas companies to act according to the agreement in question, while also outlining that the Ministry of Energy will regularly be reporting on related activities to the Community as part of a fully transparent process of cooperation.

Senior Associate at Karanovic & Nikolic, Petar Mitrovic, had the following to say on this subject: "Excellent news for Serbia and a big success for Minister Antic and his team. This was apparently the final call for Serbia and "Srbijagas" to finally implement EU standards in the natural gas sector, which should ultimately result in more competitive and stable market."