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Comparative Analysis of Central and Southeastern European Counties’ Energy Sectors and Strategic Guidelines

The recent economical and geopolitical events dramatically impacted the dynamics of energy policy implementation in Central and South-eastern Europe region. Therefore, the issues in the energy sectors of analyzed countries have become more pressing. The global economic and financial crises significantly decreased the amount of western liquid capital. Crisis also exposed the region’s vulnerabilities and increased investment risks. Analyzed countries don’t have significant economic potential for funding large scale energy projects. Therefore funding became a key obstacle to energy investments. So, the policy main problem became how to finance major energy projects proposed in strategies. On the other hand, current economic depression influenced governments resulting with renewable energy initiatives taken even more seriously. The renewable energy sector has a great potential for industrial growth. The developed EU countries push towards green economy therefore EU RES targets became more important. Almost 80 billion EUR in investments is needed for achieving RES targets in the analyzed countries including Croatia. Comparing with conventional energy sources renewables are not competitive and there will be challenging to attract required capital for project investments. Natural gas transport disputes between Russia and Ukraine exposed energy vulnerability to disruption, led to restrictions on natural gas consumption and resulted with the issue of energy dependence as a top priority in most analyzed countries’ energy policy including Croatia.

Energy Sectors; Strategic Guidelines

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