Serbia has initiated another strategic investment – the construction of the national gas pipeline between the Bulgarian and the Hungarian borders, which will deliver gas from the TurkStream pipeline, securing the supply, Serbian Mining and Energy Minister Aleksandar Antic said today.
He told RTS that this was one of the strategically most important project for the future and the development of Serbia.
– With this project, Serbia secures its gas supply and solves all the issues that were present until now, while also becoming a transit state when it comes to gas supply. Serbia will profit from this, and the project will also enable a further development in this sector. This enables new gasification, new industrial zones and a further reindustrialization of the country – Antic emphasized.
He adds that the works are split across four sections, where pipes will be laid beneath the rivers Crni Timok, Velika Morava, Danube, Tamis and Tisa.
The minister says that concrete activities have already started.
– The first pipes have arrived, and the contractors, among which is a considerable number of local companies, are realizing the project in line with the plan and our expectations – Antic added.
He doesn't expect any problems regarding the financing to occur either, as 30% of the funds are provided by Gastrans shareholders – the local Srbijagas and the Russian Gazprom, whereas the rest is project financing.
– This is an absolutely commercial project, based on the lease of the pipeline's capacity. The project secures its cost-effectiveness primarily through transit tariffs – Antic said.