Certification framework proposed by Serbia’s Ministry of Mining and Energy
Serbia is preparing to introduce a new certification framework for natural gas storage operators, focused on tightening oversight of ownership structures, management arrangements, and financial stability. A draft regulation issued by the Ministry of Mining and Energy sets out the conditions companies must meet to obtain certification. It also specifies the full set of documents required during the approval process. The proposed rules are intended to strengthen regulatory control and improve transparency in the gas storage market.
Ownership disclosure and identification of controlling entities
A central element of the regime is disclosure of ownership and control. Applicants would be required to provide detailed information on shareholders, voting rights, affiliated entities, and broader ownership links. The draft regulation calls for special attention to investors from third countries. It also requires identifying the ultimate controlling entities behind both operators and storage facilities.
The documentation package extends beyond ownership details. Companies would submit extensive corporate and financial materials, including registration certificates, founding acts, audited financial statements, and proof of ownership or operational rights for storage infrastructure. Regulators would use this information to assess the financial reliability of applicants. The approach is designed to support evaluation of both legal standing and financial capacity.
Operational independence requirements for storage operators
The draft regulation places emphasis on operational independence for certified storage operators. Operators would need to demonstrate that members of their management and governing bodies are not engaged in natural gas or electricity production and supply activities. They would also need to ensure that commercially sensitive information is protected from access by companies active elsewhere in the energy sector. These requirements are part of the conditions for certification under the proposed framework.
Scope of review and role of Serbia’s energy regulator
The review process would extend beyond operators to include ownership structures of storage facility owners. Authorities would examine associated companies, energy licenses, and international business connections related to storage facilities. This broader assessment is intended to address risks linked to cross-sector influence and market concentration. Applications would be submitted to the Energy Agency of the Republic of Serbia.
The Energy Agency would have authority to request additional documentation during evaluation. Operators would also be obliged to report significant changes in previously submitted data. The final certification decision would take into account compliance with regulatory requirements alongside considerations related to energy supply security. Opinions from the Energy Community Secretariat would also play a role in the approval process, supporting alignment with regional energy market standards.
