energy system

Energy Sector Vulnerabilities Highlighted by Geopolitical Tensions in Serbia

Serbia's energy landscape has become increasingly pivotal in reflecting the country's exposure to geopolitical risks, particularly due to the ongoing uncertainty surrounding the ownership of Naftna Industrija Srbije (NIS) and fluctuations in global commodity prices. This situation underscores Serbia's vulnerability to external shocks, primarily driven by its reliance on imported crude oil and natural gas. The nation's energy system is heavily dependent on external supply routes, notably through the JANAF pipeline, despite having domestic refining capabilities. This reliance renders the…