Djedovic Handanovic: Crude oil sector critical for Serbia's energy security

BELGRADE - The Serbian parliament on Wednesday passed laws on crude oil, natural gas and mandatory oil, oil derivative and gas reserves.

In a comment, Minister of Mining and Energy Dubravka Djedovic Handanovic said the crude oil sector was crucial for Serbia's energy security and that the passed laws were a result of joint work by all relevant institutions and enterprises, an official statement said.

The Ministry of Mining and Energy said the passage of three new laws regulating the oil and gas sector would contribute to greater security, quality and reliability of supplies to the domestic market, as well as to alignment with EU regulations in these areas.

"Regardless of the gravity and seriousness of the crisis we are facing as a result of external circumstances and conflicts between big powers, our task is to ensure sufficient quantities of fuels to supply the domestic market and create the conditions for more efficient functioning of the energy sector. The passed laws are a part of overall efforts by the government and the competent ministry to increase the security of supplies, above all, through increased reserves and mechanisms and clear action procedures in crisis situations to protect our citizens and the economy from supply disruptions," she said.

Djedovic Handanovic added that the laws would also define more clearly the roles and obligations of all stakeholders in the oil and gas sector so that, by doing their part of the work, they contributed to safeguarding energy security, in coordination with the government and the ministry.

The new law on crude oil should help to create the conditions for secure, quality and dependable supplies of oil, oil derivatives and other fuels, as well as contribute to balanced development of the sector, the ministry said.

It also said the law would define the level of operational reserves of oil derivatives and other fuels that must be secured by oil derivative producers and traders, electricity and heat producers as well as producers of natural gas-based heat.

The ministry said the law on natural gas would help create the conditions for ensuring secure supplies to the domestic market and to efficient functioning of the natural gas market.