A burning question since the conflict in the Middle East escalated is whether energy prices will rise in our country. Director of Energoinvest Mirza Ustamujić told Fena news agency that natural gas supply is not threatened and that the price set at the beginning of the year remains in effect.
“The current rise in prices on the world markets will not be reflected in the March bills”, said Ustamujić, drawing attention to the fact that Bosnia and Herzegovina depends on one interconnection for the import of gas, and it is important to develop new supply routes in order to further strengthen the country’s energy security. He added that Energoinvest has a long-term contract for the supply of natural gas under the so-called oil formula, which means that the price is not determined according to daily stock market changes, but adjusted quarterly according to the movement of oil prices.
Bosnia and Herzegovina has signed a long-term contract on the supply of natural gas with Russia’s Gazprom for the market of the Federation of Bosnia and Herzegovina.
“The further development of the situation, especially the movement of oil prices, will be an important factor in the formation of prices in the coming period. If there is a stabilization of oil prices in the coming weeks, it is possible that the prices will remain approximately at the current level. Otherwise, the continued rise in the price of oil may also lead to a certain rise in the price of gas,” Ustamujić said.
According to Goldman Sachs Group Inc, natural gas prices in Europe could more than double if shipping through the Strait of Hormuz is halted for a month.
The European Union gets about 60 percent of its liquefied natural gas from the USA, followed by Algeria and Russia. Qatar, a Gulf producer and the world’s second-largest LNG exporter, supplied Europe with about six percent of its LNG in the third quarter of 2025.
