Sunday, May 19, 2024
HomeLNGEgypt's LNG may be exported to Serbia at favourable prices, Ambassador says

Egypt’s LNG may be exported to Serbia at favourable prices, Ambassador says

The Minister of Mining and Energy, Dubravka Đedović, spoke with the Ambassador of Egypt to Serbia, Basel Salah, about the relations between the two countries and the potential for improving cooperation in the supply of gas and renewable energy sources (RES), the Mining and Energy Ministry announced.

The Serbian Mining and Energy Minister pointed out that the energy crisis in Europe and the world showed that the diversification of the energy supply is a condition for ensuring energy security.

“Safe energy supply is one of the most important issues today, which is why the goal of the Government and the line ministry is to make the energy sector more independent. With the completion of the Balkan Stream, we got a new direction of gas supply and became an important transit country,” Minister Đedović said. “This year, we will complete the construction of the Serbia-Bulgaria gas interconnection, which will enable another supply route and new suppliers of the Serbian market. We are interested in cooperating more with Egypt, which is becoming an increasingly important supplier of liquefied natural gas to the Mediterranean market and we are glad to start discussing the deepening of excellent political relations in the energy sector as well.”

Ms Đedović noted that her government is preparing strategic documents and legislative amendments to enable carbon neutrality, new investments in RES and greater energy security.

Is Serbia set to secure new gas supplies?

The Egyptian Ambassador pointed out that Egypt is becoming an important Mediterranean energy hub and that Egypt’s liquefied natural gas (LNG) may be exported to Serbia at favourable prices through the future gas interconnector between Serbia, Bulgaria and Greece.

Ambassador Salah pointed out that Egypt, like Serbia, is actively working on drafting strategic energy documents in order to increase the share of RES to 60 per cent by 2040. He added that Egyptian companies have extensive experience in the construction of solar and wind power plants and that many have expressed their willingness to do business in Serbia.

As noted in a press release from the Mining and Energy Ministry, “more intensive communication” between the relevant ministries and joint work on the exchange of knowledge and the application of hydrogen technologies were agreed upon during the meeting.

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