Focus on Energy, 2010 - Karanovic & Nikolic

INTRODUCTIONThe jurisdictions covered in this Book – Serbia, Kosovo, Bosnia and Herzegovina, Macedonia and Montenegrowere all part of the former Yugoslavia, which broke up in the early 1990’s. These countries have acombined population of approximately 16.5 million and a total GDP of EUR 103 billion (PPP).The region suffered a much documented and traumatic transition from a planned economy to series offree market economies. Today, these Western Balkan countries are potentially the next bloc of nationsto join the European Union. The entire region is eager to integrate into the north-Atlantic structures andis already harmonizing its legislation and economic structures with those of the EU.2Energy consumption in the region is much higher in comparison with EU member states. Energy productionon the other hand is quite low, with most power plants still utilizing technology that dates fromthe middle of the last century, which ultimately has an impact on the surrounding environment. Transmissionsystems are seriously underdeveloped and the energy trade market is yet to be liberalized. Thepotential for the development and use of renewable energy resources is huge. All of these countries havecapacity to harness and exploit water, wind, sun, biomass and geothermal energy for the production ofenergy and heat.FOCUS ON ENERGYWe believe that the region as a whole should experience a surge in energy investments before long as aresult of the efforts of various governments to attract investors in the energy sector through the implementationof various incentives.The region’s thirst for energy needs to be satisfied as soon as possible, and the incentives and opportunitiesfor investment in the energy sector have never been better.ABOUT THE AUTHORSKaranovic & Nikolic is a dynamic law firm and focuses on international commercial law. The firm representsleading investors entering the market in Serbia, Montenegro, Bosnia & Herzegovina and Macedonia.Drawing on both the local and international training and experience of its lawyers in the areas of civiland common law, Karanovic & Nikolic provides its clients with unparalleled professional services of thehighest possible standard. Ranked by both the Legal 500 and Chambers Global as the leading law firm inthe region, we are proud to serve our clients in their business endeavours in these markets.Founded in 1995 in Belgrade, Serbia, KN Karanovic & Nikolic today has 11 partners and 70 lawyers andis the only truly regional law firm present in this part of the world. KN Karanovic & Nikolic providesservices from its offices in Serbia (Belgrade), Bosnia and Herzegovina (Banja Luka and Sarajevo), Macedonia(Skopje) and Montenegro (Podgorica). Our team is divided departmentally into groups of lawyersspecialized in certain areas of law.One of these groups is the KN Energy & Infrastructure Team. This is a group of leading legal practitionersthat have a passion for this industry sector and who are well versed in applying the law in aprudent but progressively commercial manner to ensure the best possible outcome for their clients. Wemerge the multi jurisdictional skills and experience of our corporate and specialized industry advisorsand provide a professional, complete and cost effective service.