Yugoslavia needs $ 29 bn for energy development to 2020

Feb 18, 1997 01:00 AM

Feb. 5, 1997 Yugoslavia needs to invest $ 29 billion to develop its energy sector over the next 25 years, according to a federal government strategy paper. In its study, the Yugoslav government said $ 21 bn should be invested in reconstruction, revitalisation, rationalisation and construction of new capacities for electricity, and $ 8 bn for oil and gas production. An estimated 45 % increase in primary energy consumption between 1990 and 2020 is based on calculations that the country's gross domestic product will rise by 87 % over the period. Electricity consumption increased between 1993 and 1995 due to a lack of other fuels after an international trade embargo against Yugoslavia cut off oil and gas supplies."The power and other industries must reduce consumption to reasonable levels. Around 15-20 percent savings can be made in this area," Yugoslav Economy Minister Rade Filopovic told. Filipovic said funds should be raised by self-financing, more realistic prices of energy, restructuring and privatisation ofthe sector. Part of the funds would be secured via foreign investment and building of several hydro-electric and thermal power plants whose production would be aimed at export. Yugoslavia's main source of energy, lignite deposits, are expected to be nearly exhausted within 25 years, and new deposits or substitutes should be sought, the study said. "A very realistic option in long-term exploitation is to offer part of our energy reserves to foreigners," said Mirko Todorovic of the Economics Institute and a member of the government expert team. Yugoslavia must count on importing more natural gas, Todorovic said, to add to its own reserves of oil and gas.To meet growing demand, the strategy envisages construction of around 5,100 MW in new capacities, while around 2,200 MW of existing capacity will retire by 2020. Consumption of liquid fuels is expected to increase from 5.9 million tonnes in 1990 to 7.5 mmt in 2020. The government said the strategy is not a fixed document and is subject to change and adoption of separate concrete programmes and measures, depending on the situation in the country and the world.

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