Energy Projects in South-East Europe: Financing Possibilities and Perspectives
Prof. Nela Vlahinić, Andrea Rosanda

South-East European (SEE) region is an important geo-strategic energy corridor and transit energy region, and there is a strong need for new energy projects in order to ensure energy security and energy transit towards and across Europe. Despite the interest of SEE countries to actualise energy investment projects, the implementation proved to be a slow process since no major regionally significant project in the oil and gas sector has been completed during the last decade. In most SEE countries, regional co-operation in the field of energy has been perceived as a necessary part of the European integration process. At the beginning of the present decade, the main targets of the EU energy policy have been incorporated in the long-term strategies of SEE countries. The focus has been redirected towards modernisation of existing energy facilities and construction of new ones, improvement of energy efficiency and increasing share of renewable energy sources. The aim of this paper is to provide an overview of planned energy projects and to discuss problems in their realisation. Since the results of many initiatives were inadequate due to the lack of financial mechanism, our analysis focuses on financial possibilities within various financial institutions with special reference to EU institutions and funds whose resources can be used by SEE countries.

Full Text: PDF     DOI: 10.15640/jibe.v2n4a10