Sertic: South Stream crucial for energy stability

BELGRADE - The construction of the South Stream pipeline will be crucial for energy security and economic stability of the host countries, president of the Serbian Chamber of Commerce (PKS) Zeljko Sertic said on Thursday.

"One of the biggest investments in Serbia over the past several decades, worth nearly EUR 2 billion, will bring direct and indirect benefits to the country's economy and encourage new investment and job creation," Sertic said at the opening of the energy forum "Role of Serbia in the Balkan energy market".

He pointed out that the benefits for the economy of Serbia and the region will be visible as soon as the works commence, as they will include direct engagement of several thousand people and indirectly, a much larger number of workers, construction companies, equipment manufacturers, project organizations and institutes, as well as companies in the service sector.

Numerous experts will be engaged in the gas pipeline maintenance during the exploitation, and after the completion of works, Serbia will benefit from the transport, electricity and energy infrastructure and other related facilities, noted Sertic.

"In the long run, the implementation of the South Stream project will enable a stable and sustainable development of the local economy and economy of the region, in particular the industries that use natural gas as energy source or feedstock in their production activities,” PKS president said.

Photo Tanjug, Z. Zestic (Archive)