Serbia Adopts Rules Preventing South Stream Pipeline?

Shortly before end of 2014, Serbian National Assembly adopted new Energy Law ("Official Gazette of the Republic of Serbia" no.145/2014, "Energy Law"), the main feature of which was, as we noted in the December edition of Client Alert, the harmonisation of Serbian energy legislation with the Third Energy Package of the EU. The subject matter of this Legal Insight shall, however, be a deeper analysis of the possible legal consequences of the adoption of the Third Package rules for Serbia with regards to the cancellation of the South Stream project by Russian Federation and recent headlines about the construction of a new pipeline project - Turkish Stream.

Key features of the Third Energy Package