Lakić: Gas had to increase in price due to Gazprom's prices, not due to the new contract between Energoinvest and Sarajevo-gas Istočno Sarajevo

(Patria) - The Federal Ministry of Energy, Mining and Industry has commented on the increase in gas prices.

They state that gas had to increase by 3.9 percent and that it is a regular harmonization of quarterly prices dictated by Gazprom, and not due to the new contract between "Energoinvest" and "Sarajevo – gas" Istočno Sarajevo.

"The increase in gas prices was inevitable due to rising global market prices. The FBiH Government could not influence the increase in energy prices worldwide, but it ensured that the increase in natural gas prices was minimal! The price of natural gas has increased by 3.9%, from the previous 836.53 KM per cubic meter to 869.15 KM per cubic meter, all due to the regular quarterly harmonization by which Gazprom adjusted the price of natural gas for the first quarter of 2024. This resulted in an inevitable increase in the purchase price of natural gas.
The increase in natural gas prices has occurred throughout the region, Europe, and the world. One of the main reasons for the increase in gas prices is the increase in oil prices, which directly affects the determination of gas prices.

The increase in oil prices is caused, among other things, by the blockade of the Suez Canal. Shipping companies have halted their deliveries through the Red Sea, avoiding the Suez Canal, and the attacks occurring in that area are causing fear of disruptions to regular supply. In light of all the above, unfortunately, there had to be an increase in oil prices, and consequently, an increase in natural gas prices, but the Government of the Federation of Bosnia and Herzegovina ensured that this increase was minimal."

"Oil prices on the world market, wars, and crisis situations are not something we can influence. The FBiH Government is doing its best to protect the citizens of the Federation of BiH and ensure regular, stable, and secure natural gas supply. We are constantly monitoring and will continue to monitor the situation and energy prices on the world market," said the Federal Minister of Energy, Mining and Industry, Vedran Lakić, adding that the analysis of the past three months showed it was evident and inevitable that natural gas prices would increase at the beginning of 2024.

Minister Lakić emphasized that he expects the contract between "Energoinvest" and "Sarajevo – gas" Istočno Sarajevo to be signed very soon.

"The directors of these two companies should have already signed the Agreement and implemented what was agreed upon at the level of ministers of the two entities, which was also attended by the directors. Citizens are our priority, and therefore I deny all the claims by quasi-patriots and false do-gooders of the Federation of BiH that this price increase is due to a new contract for a new gas transport price in BiH. I promise the citizens of the Federation of Bosnia and Herzegovina once again that there will be gas, and that we will constantly strive to ensure that energy prices in the Federation of BiH are as low as possible," concluded Minister Lakić.

Finally, they point out that the price of natural gas is still much lower compared to the previous period when these governments were led by other political parties.