SERBIASrbija/СрбијаBELGRADESerbia is a middle-income country with a populati<strong>on</strong>of approx 8 milli<strong>on</strong> and has great potentialfor ec<strong>on</strong>omic development. Belgrade is the capitalcity with over 2 milli<strong>on</strong> inhabitants. The Serbianenergy potential is predominantly in the hydrosector. Currently, Serbia is the most active countryin the regi<strong>on</strong> with regard to energy projects andrecent announcements promise even greater activityin the near future16FOCUS ON ENERGY
SERBIAN ENERGY POLICYThe foundati<strong>on</strong>s of the Serbian energy policy are to be found in the <strong>Energy</strong> Sector Development Strategyto 2015. This was issued by the Serbian Parliament in November 2004 (the “<strong>Energy</strong> Strategy”). Startingfrom the existing situati<strong>on</strong> in the sectors of energy c<strong>on</strong>sumpti<strong>on</strong>, energy producti<strong>on</strong> and availableenergy resources, the <strong>Energy</strong> Strategy defines the main goals and priorities for the development of theenergy sector over a 10-year period:istingenergy sources and facilities in the electric sector (including the producti<strong>on</strong>, transmissi<strong>on</strong> anddistributi<strong>on</strong> of electric energy), oil, gas and heating sectors.main goals here is the substituti<strong>on</strong> of electric energy with natural gas for thermal energy services, adecrease in energy c<strong>on</strong>sumpti<strong>on</strong> in the producti<strong>on</strong> of energy, a decrease in the losses suffered in thedistributi<strong>on</strong> of electric energy and natural gas and the introducti<strong>on</strong> of new energy efficient electricappliances, equipment and facilities.“RES”) and the utilizati<strong>on</strong> of new energytechnologies, equipment and facilities which are energy efficient and envir<strong>on</strong>mentally friendly.cycle plant and the c<strong>on</strong>structi<strong>on</strong> of local combined heat and power (“CHP”) facilities with low tomedium capacities.17the participati<strong>on</strong> in the planning of new strategic energy sources and facilities such as the potentialc<strong>on</strong>necti<strong>on</strong> to regi<strong>on</strong>al and pan-European infrastructural systems.The program for the realizati<strong>on</strong> of development priorities set in the <strong>Energy</strong> Strategy is defined by theProgram for the Implementati<strong>on</strong> of the <strong>Energy</strong> Strategy 2007-2012 (the “<strong>Energy</strong> Program”), issued bythe Serbian Government (the “Government”). This program will run for a period of 6 years. The <strong>Energy</strong>Program sets the dynamics of the implementati<strong>on</strong> of the priorities set in the <strong>Energy</strong> Strategy, energyfacilities which need to be c<strong>on</strong>structed, c<strong>on</strong>cessi<strong>on</strong>s which need to be granted for the c<strong>on</strong>structi<strong>on</strong> ofenergy facilities, measures for the stimulati<strong>on</strong> of investment in the energy sector, measures for the improvementof energy efficiency and the utilizati<strong>on</strong> of RES, and the protecti<strong>on</strong> of the envir<strong>on</strong>ment.FOCUS ON ENERGYOn an annual level, the energy Balance (the “<strong>Energy</strong> balance”) sets out the quantities of energy neededfor the given year, available energy resources, the manner of supply of energy to c<strong>on</strong>sumers, the necessarysupplies of energy and the capacities of energy facilities which need to be reserved in order to securea c<strong>on</strong>tinuous and regular supply of energy to c<strong>on</strong>sumers. The <strong>Energy</strong> Balance is prepared by the Ministryof Mining and <strong>Energy</strong> and is adopted by the Government.SERBIAN ENERGY SECTOR – OVERVIEWIntroducti<strong>on</strong><strong>Energy</strong> is <strong>on</strong>e of the largest sectors of the Serbian ec<strong>on</strong>omy, accounting to some 10% of the Serbian GDP.The Serbian energy sector c<strong>on</strong>sists of oil and natural gas industry, coal mines, an electric power system,a decentralized municipal district heating system and industrial energy. Activities in the energy sectorinclude the producti<strong>on</strong> of domestic primary energy, the importati<strong>on</strong> of primary energy (mostly oil andnatural gas), the producti<strong>on</strong> of electric power and thermal energy, the producti<strong>on</strong> and the sec<strong>on</strong>dary processingof coal and the transport and distributi<strong>on</strong> of energy and energy products to energy c<strong>on</strong>sumers.
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