Europe eyes energy from Balkans

Europe eyes energy from Balkans

The Western Balkans may provide a remedy to energy-starved Europe by exporting power across the Adriatic.

Hydropower plants, such as this one in Vrutok, Macedonia, are a way for Balkan states to secure energy independence. [Tomislav Georgiev/SETimes]

Energy insecurity is prompting Europe to seek a solution in the Western Balkans.

According to the European Bank for Reconstruction and Development (EBRD), Albania, Bosnia and Herzegovina, Croatia, Macedonia, Kosovo, Montenegro and Serbia "could play a role in improving that security through possible investment in liquefied natural gas (LNG) terminals and new gas pipelines."

"Geographic position, access to the sea and the desire to create stable regulatory policy frameworks are factors that make the Western Balkans an interesting prospect for energy investors," the EBRD noted in early January.

The bank report added that while "years of under-investment, combined with slow progress in reforms, have held back the region from developing its potential" the Balkan states are now being "seen as a potential transit region of gas supplies to the EU, with implications for developing gas infrastructure in the region."

The idea is creating excitement among European investors.

"Could the Balkans export renewable energy to mainland Europe in the near future? Would Western European investment and the resources of Southeastern Europe create a win-win situation for everyone involved? There are more than a few experts involved in the region who think so," read an editorial published by Germany's Energiewende on February 10th.

"On paper, the Balkans looks like a Shangri-la for clean-energy production," the article added. "The region...