Serbia and North Macedonia have moved their planned gas interconnector into the implementation phase. The project is designed to strengthen a northbound supply route connecting the Serbian market with Greek LNG infrastructure and the Southern Gas Corridor.
Implementation agreement signed in Skopje
The two governments signed an implementation agreement in Skopje on 27 August. The move advances the project beyond memorandum and feasibility stages. The next steps will depend on work carried out on both sides of the border.
Earlier regional planning has indicated completion around end-2027. The final construction timetable will be affected by permitting, financing and procurement for the cross-border works.
Potential supply directions for Serbia
For Serbia, the pipeline would add another supply direction alongside existing inflows through Hungary and Bulgaria. It would also complement planned infrastructure towards Romania. The route could provide access to LNG arriving at Alexandroupolis and Revythoussa.
The interconnector could also support Azerbaijani gas transported through TAP and into the Greek system. This would broaden the set of physical pathways available to market participants. Additional infrastructure does not automatically lower gas prices, but it can expand options for comparing gas delivered through Bulgaria, Hungary, Greece or, in future, Romania.
Route competition and regional market effects
Optionality is becoming increasingly important across southeast Europe as the region shifts from a diversification phase toward competition between multiple physical routes for demand. Greece is described as central to that change due to its role in northern gas entry points.
LNG capacity at Alexandroupolis and Revythoussa, together with TAP-linked gas and interconnection with Bulgaria, supports Greece’s position as a gateway for gas moving north. Romanian buyers have already started using the Greek-Bulgarian corridor commercially, while Serbia could become another material destination if the North Macedonian link is completed.
Implications for North Macedonia’s system
For North Macedonia, the project could improve the economics of its relatively small gas system. It would position the country as part of a transit corridor rather than only an end market. The pipeline may also support additional industrial demand or flexible gas-fired power generation in North Macedonia.
The commercial impact will depend heavily on transportation tariffs and available capacity. If delivered broadly on schedule, the Serbia–North Macedonia interconnector would give Belgrade greater leverage when negotiating future supply and transportation contracts.
The value of the link would be tied less to any single source of gas and more to enabling several sources to compete. The key question highlighted in planning is execution.
