oil and gas

Serbia Faces Energy Security Challenges as NIS Sanctions and Russian Gas Dependence Persist

Serbia faces mounting energy security challenges involving Russian gas supplies, the ownership of Naftna Industrija Srbije (NIS) and investment in alternative infrastructure. Temporary operating permissions and supply agreements have maintained short-term stability, but the country remains exposed to geopolitical disruptions that could affect industrial production, energy costs and investment planning. The US Treasury has extended NIS’s operating licence, allowing the Pančevo refinery to continue operating, while Gazprom has agreed to supply natural gas to Serbia under existing commercial terms until…