Gazprom Jumps Price Tag on Bosnia and Herzegovina Natural Gas Supplies

Russian energy giant Gazprom Export has increased its natural gas price for Bosnia and Herzegovina by over 14% for the third quarter of this year. The new price was announced by Vedran Lakić, Minister of Energy, Mining, and Industry of the Federation of Bosnia and Herzegovina.

According to Lakić, the increased price is a unilateral decision made by Gazprom Export, over which Energoinvest has no influence. This move comes as authorities in the Federation of Bosnia and Herzegovina plan to build the 'Southern Interconnection' gas pipeline, which will transport gas from Croatia's liquefied natural gas terminal on the island of Krk.

The price increase is part of a broader concern about energy security in Bosnia and Herzegovina. The country currently relies entirely on Russian natural gas, supplied via Serbia through the Turkish Stream pipeline, with annual payments to Gazprom estimated at around 75 million euros.