Serbia is preparing to introduce a new certification framework for natural gas storage operators, aimed at tightening oversight of ownership structures, management arrangements, and financial stability within the sector.
A draft regulation issued by the Ministry of Mining and Energy outlines the conditions companies must meet in order to obtain certification, as well as the full set of documents required during the approval process. The proposed rules are designed to strengthen regulatory control and improve overall transparency in the gas storage market.
A key focus of the new regime is the disclosure of ownership and control. Applicants would be required to provide detailed information on shareholders, voting rights, affiliated entities, and broader ownership links. Special attention would be given to investors from third countries, as well as to identifying the ultimate controlling entities behind both operators and storage facilities.
In addition to ownership transparency, companies would need to submit extensive corporate and financial documentation, including registration certificates, founding acts, audited financial statements, and proof of ownership or operational rights for storage infrastructure. Regulators would use this information to assess the financial reliability of applicants.
The draft regulation also places strong emphasis on operational independence. Storage operators would be required to demonstrate that members of their management and governing bodies are not engaged in natural gas or electricity production and supply activities. They would also need to ensure that commercially sensitive information is protected from access by companies active elsewhere in the energy sector.
The review process would not be limited to operators alone. Authorities would also examine the ownership structure of storage facility owners, including associated companies, energy licenses, and international business connections. This broader approach is intended to reduce risks linked to cross-sector influence and market concentration.
Applications for certification would be submitted to the Energy Agency of the Republic of Serbia, which would have the authority to request additional documentation during the evaluation process. Operators would also be obliged to report any significant changes in previously submitted data.
The final decision on certification would take into account compliance with regulatory requirements, as well as considerations related to energy supply security. Opinions from the Energy Community Secretariat would also play a role in the approval process, ensuring alignment with regional energy market standards.
