Stasa Kosarac: BiH committed to cooperation with Southern Gas Corridor

Bosnia and Herzegovina is fully committed to enhancing energy security at both regional and global levels and highly values its cooperation with the Southern Gas Corridor, the country's Minister of Foreign Trade and Economic Relations, Stasa Kosarac, said during ministerial meetings of the Southern Gas Corridor and Green Energy Advisory Councils in Baku.

Report quotes him as saying the event brought together key players from the energy and economic sectors to seek collective solutions to global energy challenges.

"We are at a pivotal moment in the global energy transition. Decarbonization is no longer a matter of political preference—it is a necessity. Time and resources are limited, and each step forward must be strategic, deliberate, institutional, and sustainable," Kosarac said.

The minister said that the energy transition requires substantial investment in energy infrastructure, the modernization of energy systems, and a proactive role in shaping a low-carbon future.

"This is not only a response to climate challenges, but also a critical driver of system efficiency, economic competitiveness, and resilience," he said.

The minister noted that Bosnia and Herzegovina is actively committed to this transition.

"We aim to nearly double our current capacity of renewable energy by 2030—primarily through the development of solar and wind power projects. Creating a favorable investment climate is crucial. That means simplifying regulatory frameworks and enabling the flow of capital that will fuel the rapid development of clean energy technologies," Kosarac said.

He believes that successful implementation of energy transition strategies depends heavily on financial resources—particularly access to EU funds that can attract private capital and drive growth. Without such investment, the transition risks becoming slow, inefficient, and potentially destabilizing.

The minister also stressed the need to strengthen regional cooperation. He said a coordinated regional strategy—based on shared knowledge, joint investments, and harmonized regulatory frameworks—will help move more efficiently toward a green and integrated energy future.

"Beyond infrastructure and technology, we are also working to build an institutional framework that ensures effective energy governance. In this effort, cooperation with regional partners, the Southern Gas Corridor, and international stakeholders will be essential. Bosnia and Herzegovina is fully committed to enhancing energy security—both regionally and globally. As a country without domestic gas production, we are fully dedicated to expanding our participation in these shared initiatives and advancing our clean energy future," the minister said.