Gazprom Export Increases Natural Gas Prices for Bosnia and Herzegovina by 14.42%

Gazprom Export announced a 14.42% increase in natural gas prices for Energoinvest, effective in the third quarter of 2023. This decision comes as the Federation of Bosnia and Herzegovina initiates the Southern Interconnection gas pipeline project to transport gas from Croatia's Krk LNG terminal.

Currently, Bosnia and Herzegovina relies entirely on Russian gas supplied through Serbia via the Turkish Stream pipeline, with annual payments estimated at 75 million euros. The Republika Srpska has secured a one-year extension of its gas supply agreement with Gazprom at preferential rates. The situation underscores the urgent need for diversified energy sources in the region, as reliance on a single supplier poses risks to energy security.