Serbia and Italy signed Protocol on cooperation in energy sector

The Ministry of Energy and Mining of Serbia and the Ministry of Economic Development of Italy have signed the Protocol on cooperation in energy sector today (March 9, 2009) in Belgrade.

The Protocol has been signed by Serbian Minister of Energy and Mining, Petar Škundrić, and Italian Minister of Economic Development, Claudio Scaiola.

Following the signing, Škundrić said to the press that that document defined the cooperation between Serbia and Italy in the domain of renewable energy sources, hydro-energy, cooperation between operators of mobile electric power systems, as well as cooperation in realization of PEOP project.

- The Protocol is the framework for strategic cooperation between Italy and Serbia, as well as power companies. My opinion is that this is the best way for us to respond to the global economic crisis. Serbia will be one of the largest building sites in this part of Europe if everything goes as planned – said Škundrić.

Italian Minister of Economic Development, Claudio Scaiola, said that the Protocol on cooperation in energy sector only confirmed previous cooperation between Serbia and Italy.

He added that Serbia and the region should be interested in larger production of electricity, as well as expansion of coal exploitation, and he pointed out that Italian company "Edison" had concrete projects for that.

According to the words of Scaiola, in the domain of oil and gas, Italy is interested in development of Konstanza – Trieste pipeline, but it also supports renewable energy sources because Italy is interested in reduction of emission of harmful gases.

He also announced cooperation in realization of projects on the Drina’s watercourse where very useful hydroelectric unit could be built.

Scaiola pointed out that the Protocol would enable cooperation between Montenegro and Italy in energy sector, but “if that connection fails, there will be no cooperation between Serbia and Italy either".

Italian Minister added that gas pipeline Južni Tok was the priority project that Europe wanted to implement, and he explained that there was the proposal at the level of EU for provision of additional subventions for its realization.

He added that Italy was also interested in PEOP project, but he explained that that project can not be implemented by only one company, and that the companies interested in participation in that project were still analyzed.