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Energy Minister Announces €14 Billion Investment Cycle

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Minister of Energy and Mining Petar Skundric and Slovak Minister of Economy Juraj Miskov have signed an agreement on cooperation in the construction of gas pipeline Aleksandrovac-Novi Pazar-Tutin. The agreement is worth €45 million and the project will be implemented jointly by a Serbian gas company Srbijagas and a Slovak consortium led by company Euroframe. Skundric said the construction of the pipeline with the capacity of 100,000 cubic meters per hour could be completed in two years.

The Minister stated earlier in February that a €14 billion investment cycle had started in the energy sector. Skundric said investments of about 2 billion euros were expected in the gas sector, about 1 billion euros should be invested in the oil sector, while the potentials of renewable energy sources would enable investments worth between 2 and 6 billion euros over the next five to seven years. “If everything goes as planned, over 50,000 people outside the energy sector will get jobs – said Skundric.”

Source Siepa

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