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Energy Sector Dominance

The energy sector is the backbone of the Adria region’s economy, driving growth and providing a competitive edge through a mix of traditional and renewable energy sources

Diversity and forward-thinking investments define Slovenia’s energy sector. The nation has made significant strides in renewable energy, with hydropower, solar, and wind at the forefront. Leading the charge is HSE (Holding Slovenske Elektrarne), the largest electricity producer, primarily through hydropower. GEN energija, operator of the Krško Nuclear Power Plant, contributes substantially to both domestic and regional energy supplies. The Petrol Group, a major player in oil and gas, is deeply invested in renewable energy projects and efficiency services, underscoring Slovenia’s strategic push towards sustainability and energy independence.

Despite Albania’s agricultural export dominance to the EU, its energy sector remains a cornerstone of economic stability. Major projects, such as the construction of one of the largest hydroelectric plants in the region and extensive oil reserve exploration, are pivotal to its economy. Key players include GSA, an energy trading giant; Kurum International, a Turkish company operating several hydroelectric plants; and Gega Oil Group, a leader in the oil market. Additionally, the Albanian Parliament has approved the construction of a new hydroelectric power plant, further boosting the country’s energy infrastructure. Dutch company Shell is also expected to announce significant oil reserves in the Shpirag mountains, which could enhance Albania’s position in the regional energy market. Other notable companies in the sector are Ener Trade, involved in wholesale electricity trading and supply, the state-owned electricity corporation KESH, and Bankers Petroleum, a Canadian oil company under Chinese ownership. These players significantly bolster Albania’s energy production, cementing its role as a regional energy stalwart.

Economic growth in Bosnia and Herzegovina is fueled by its energy sector, with industry leaders like GEN-I, a top electricity trader, and Elektroprivreda BiH (EPBiH) and Elektroprivreda Republike Srpske (ERS) at the helm. This sector, alongside the robust metals and defence industries, forms the bedrock of the economy. ArcelorMittal Zenica and Aluminij Industries are key in the metals sector, while Optima Group Banja Luka and HIFA-Oil dominate oil and fuel distribution. Despite internal economic fragmentation, these industries ensure stability and growth, givng the country a resilient economy.

Opportunities abound in Croatia’s energy sector. INA, a leader in the oil industry, PPD in natural gas, and HEP in electricity production play crucial roles in economic stability. Alongside tourism, these companies fortify the nation’s economic framework. Additionally, firms like Met Croatia Energy Trade and MVM Ceenergy Croatia are advancing in gas distribution and electricity production, which are vital for sustaining economic stability and achieving broader economic goals.

Predominantly hydroelectric, Montenegro’s energy sector generates a significant portion of its electricity. The country is also exploring renewable sources and enhancing its energy infrastructure. Elektroprivreda Crne Gore (EPCG), the main electricity producer, relies on hydroelectric plants. Jugopetrol, the leading oil and petroleum company, handles import, distribution, and sales. The Montenegrin Electric Transmission System (CGES) maintains the national grid, working to diversify energy sources, increase efficiency, and integrate more renewable energy into the grid.

NIS produces around 35,000 barrels of oil equivalent per day

INA produces approximately 25,000 barrels of oil equivalent per day

Bankers Petroleum produces approximately 20,000 barrels of oil per day

HSE has over 2,000 MW of hydropower capacity

GEN energija supplies about 40% of Slovenia’s electricity needs

The Petrol Group operates more than 500 service stations in Slovenia and neighbouring countries

ArcelorMittal Zenica produces over 1 million tons of steel annually

Serbia’s industrial sector is robust and underpinned by mining and energy. Notable companies, such as NIS in the oil industry, Zijin Mining in the mining sector, MOL Serbia in fuel distribution, and EPS in electricity production, highlight Serbia’s rich resources and its robust industrial and energy sectors. This wealth positions Serbia as a regional leader in industrial production and export. The energy sector remains a key driver, supporting Serbia’s industrial prowess and economic growth.

Kosovo’s* economy heavily relies on energy production, with KEK (Kosovo Energy Corporation), KESCO (electricity supply), and KEDS (electricity distribution) as primary players. These companies meet domestic demand and ensure economic stability. Other significant entities include Eks-Pleme, Al-Petrol, and HIB Petrol, which focus on oil and fuel distribution. Together, they bolster Kosovo’s economic resilience and growth, laying a stable foundation for future development.

A blend of thermal power, hydropower, and growing investments in renewables characterise North Macedonia’s energy sector. The country is keen to enhance its energy independence and sustainability through various projects. EVN Macedonia, a leading electricity distribution company, and Elektrani na Severna Makedonija (ESM), the main electricity producer, are pivotal. OKTA Skopje, the largest oil refinery, plays a crucial role in importing, refining, and distributing petroleum products. Investments in solar and wind energy are also increasing, aiming to diversify the energy mix and reduce fossil fuel dependence.

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