Minister: Bosnia and Herzegovina backs deeper cooperation with Southern Gas Corridor

Bosnia and Herzegovina is fully dedicated to enhancing energy security at both regional and global levels and attaches significant importance to its cooperation with the Southern Gas Corridor (SGC), Minister of Foreign Trade and Economic Relations Staša Košarac said on April 4 in Baku.

Speaking during the ministerial meetings of the SGC Advisory Council and the Green Energy Advisory Council, Košarac emphasized the significance of the event, which he said brought together key players in the energy and economic sectors to work toward collective solutions for global energy challenges, Caliber.Az reports via local media.

“We are at a pivotal moment in the global energy transition. Decarbonization is no longer a matter of political preferences — it is a necessity. Time and resources are limited, and every step forward must be strategic, well-thought-out, institutional, and sustainable,” Košarac stated.

He noted that the energy transition requires substantial investment in upgrading energy infrastructure, which he described as a critical factor for improving system efficiency, economic competitiveness, and sustainability.

“Bosnia and Herzegovina is actively committed to a ‘green’ energy transition. The country aims to nearly double its current renewable energy capacity by 2030 — primarily through the development of solar and wind energy projects,” he said.

According to Košarac, creating a favorable investment environment is essential to the success of the energy transition. This involves simplifying the regulatory framework and ensuring capital inflow that can accelerate the development of clean energy technologies.

He also stressed that access to financial resources, especially European Union funds, is crucial for implementing energy transition strategies effectively. “Without such investments, the transition risks becoming slow, inefficient, and potentially destabilizing,” he emphasized.

Košarac also highlighted the importance of strengthening regional cooperation. He said a coordinated regional strategy based on knowledge sharing, joint investments, and harmonized regulations would support more efficient progress toward a greener and more integrated energy future.

“Beyond infrastructure and technologies, Bosnia and Herzegovina is also working on establishing an institutional framework that ensures effective energy governance. In these efforts, cooperation with regional partners, the Southern Gas Corridor, and international stakeholders will be of great importance. We are fully committed to enhancing energy security, both at the regional and global levels. As a country without its own gas production, we are fully dedicated to expanding our involvement in these joint initiatives,” Košarac concluded.

By Tamilla Hasanova