The EU has invested around 500 million euro in the Serbian energy sector since 2000, Deputy Head of the Delegation of the EU to Serbia Adriano Martins stated and announced that the EU will continue investing in this domain, reports ANSAmed news agency.

It is necessary to continue with modernisation, increase efficiency and the use of renewable energy sources, Martins said at a meeting on energy in Belgrade.

Martins assessed that Serbia should continue adjusting its energy regulations to EU legislation and directives, and improve its price policy.

Serbian Minister of Energy and Mining Petar Skundric pointed out that the price of gas in Serbia is not the highest one in the region, and added that gas is cheaper in Romania and Croatia, both of which cover half of their needs from their own sources.

Skundric said that the government is planning to invest around EUR9 billion in the reconstruction of the existing and the construction of new facilities for electricity production, and to allocate another EUR 2 billion for the gas sector, including the construction of the South Stream pipeline.

The minister noted that Serbia has approved a number projects that involve electricity production from renewable energy sources. The projects are worth around EUR2 billion, according to Skundric.