The company Energoinvest issued a statement regarding the preliminary agreement of the European Union (EU) on the ban on importing Russian gas, which should come into force by the autumn of 2027.
They stated that this company is carefully following the decision of the Council and the European Parliament, which introduces a comprehensive ban on importing natural gas from Russia.
“The decision covers all existing contracts, which means that in the coming period, Russian natural gas will be gradually withdrawn from the European market. Considering that Bosnia and Herzegovina (BiH) has a signed long-term contract for the supply of Russian natural gas, the implementation of the EU ban in our case would refer to the period from January 1st, 2028. This deadline represents a key element in planning the next steps and defining a strategy for a safe and stable supply for BiH. Although BiH is not a member of the EU and the decision does not formally bind our market, it has a significant indirect impact, because European energy flows and regulations are increasingly reflected in the countries of the region. The supply of BiH is part of a wider European network, which makes this decision extremely important for long-term planning and system security,” they pointed out.
They added that in the next period, a phase of detailed preparations and gradual adjustment to the new European circumstances is expected.
“Energoinvest will work on the timely harmonization of contractual obligations and on considering alternative supply routes, in order to preserve a stable and uninterrupted flow of natural gas. At the same time, it will be necessary to further improve logistical and infrastructural processes in order to ensure reliable system operation in the years to come. Without opening new solutions in terms of diversification of sources and supply routes, long-term delivery stability could be brought into question, which would ultimately be reflected in the overall energy security of BiH,” Energoinvest explained.
In that context, they continue, the South Gas Interconnection project stands out in particular as an infrastructure priority of strategic importance.
“This project opens the possibility of diversification and the establishment of an independent natural gas supply route, which significantly reduces dependence on one supplier and one route. The South Interconnection carries strong development potential, with an investment cycle estimated at more than two billion euros, directly and indirectly, especially when additional planned interconnections are taken into account. Announcements of interest from United States (U.S.) companies to participate through concession models further confirm the importance of this project and open space for strengthening cooperation between the institutions of BiH and international partners, and could significantly accelerate all processes, enable more efficient implementation, and further strengthen the energy security of BiH,” they said.
In the end, they state that Energoinvest remains fully committed to maintaining a stable supply and timely preparation for the period ahead.
“In cooperation with the competent institutions, regional partners and international organizations, the company will continue working on solutions that will ensure the long-term security, sustainability and resilience of the energy system of BiH,” they concluded from Energoinvest.
It should be recalled that the Council of the EU and the European Parliament reached an agreement on a regulation introducing a legally binding, gradual ban on the import of Russian liquefied natural gas (LNG) and pipeline gas, with a full ban from the end of 2026, that is, autumn 2027.
The political agreement on the regulation still needs to be confirmed by both legislative institutions – the EU Council and the European Parliament, which is considered a formality.
The European Commission proposed the regulation on the ban on importing Russian gas instead of sanctions, because a regulation can be adopted by a qualified majority, while sanctions require the unanimous consent of all member states. In this way, a possible veto by Hungary or Slovakia was avoided, N1 writes.
