Serbian Minister of Mining and Energy Zorana Mihajlovic said that Serbia did everything in its power to secure enough energy for the winter and that, judging by the reserves, no shortages or supply cuts are expected.
Minister Mihajlovic said that Serbia already have substantial quantities of petrol, LNG, mazut and kerosene in its reserves, and it will continue to work on increasing oil and petroleum product reserves to 90 days, although that is not an obligation.
Regarding the effects of the EU ban on Russian oil, she said that, even before, NIS has not only been getting Russian oil, but also oil from Iraq and other countries. It is certain that this will increase refining costs, because other countries will need to reorient to alternative sources as well, which will increase the demand and the prices will go up.
She also pointed out that 2.2 billion cubic meters of gas per year has been secured from Russia, although Serbian annual consumption should reach 3 billion cubic meters. The difference will be compensated partly from the lease of gas storage facility in Hungary and partly from the gas storage facility in Banatski Dvor, adding that, next year, Serbia will be able to meet around 40 % of its gas demand from Azerbaijan, through the Nis-Dimitrovgrad gas pipeline.
Minister Mihajlovic said that Serbia will need to spend probably up to a billion euros by the end of the year for the import of electricity and coal due to poor management at state-owned power utility EPS, adding that normal supply of coal from domestic coalmines is expected in early 2024.
