economy
March 26, 2026
How much oil and gas does Serbia import, and how much do we pay for it?
In a world shaped by climate change and geopolitical upheavals causing energy crises, Serbia has been a vulnerable importer of fossil fuels for years, lacking both energy independence and security.
TL;DR
- Serbia is a vulnerable importer of fossil fuels, lacking energy independence and security.
- Over the past 10 years, imports have accounted for 75% of crude oil and 85.5% of natural gas available in Serbia.
- The country spent a total of $21.8 billion on oil and gas imports in the last decade.
- Imports reached a record $4 billion in 2022, a sum that could have funded solar power installations on every suitable residential roof in Serbia.
- Domestic production of oil and gas has never been sufficient to meet Serbia's needs.
- Reliance on imports makes Serbia susceptible to geopolitical events and global market prices, which are outside its control.
- Developing domestic renewable energy sources (solar, wind, geothermal) is presented as a long-term solution to reduce dependence on fossil fuel imports and boost the national economy.
- Decarbonization is also possible in district heating, transportation, and industry, moving away from 'foreign' fossil fuels towards 'our own' clean sources.
- Transitioning to cleaner alternatives that generate production domestically is considered a smart strategy amidst global crises.