Energoinvest will pay about 14.42% more for Russian natural gas during the third quarter of 2026, after Gazprom Export imposed a new contractual price. The increase follows a 14.4% rise in Bosnia’s Russian gas price as supply concentration becomes more expensive. The revised purchase price is estimated at approximately €0.50 per cubic metre.
Federation Energy, Mining and Industry Minister Vedran Lakić said the adjustment was determined by Gazprom Export. He added that the change was not negotiated or set by the Bosnian importer. This shifts the cost basis for buyers ahead of delivery in the quarter.
Commodity cost and implications for consumer bills
At an estimated €0.50 per cubic metre, the commodity cost corresponds to roughly €47–€50/MWh, depending on the gas calorific value. That figure is calculated before transmission, distribution, balancing, taxes and supplier margins. The final cost to industrial and district-heating consumers is therefore expected to be materially higher.
The price increase adds further cost pressure to a gas market exposed to a single supplier and limited physical import options. Bosnia and Herzegovina receives most of its gas through the eastern route connected to the Turkish Stream system. This arrangement leaves the country vulnerable to changes in Russian contract prices and regional transmission conditions.
Southern Gas Interconnection and alternative supply routes
The new pricing decision strengthens the commercial rationale for the proposed Southern Gas Interconnection. The project would connect Bosnia and Herzegovina to Croatia’s gas system and provide access to the Krk LNG terminal, European trading hubs and non-Russian supply. It has advanced slowly due to political and institutional disagreements over ownership and system operation.
Diversification would not automatically result in cheaper gas, as LNG prices, Croatian transmission charges and the cost of new infrastructure would affect the delivered price. It would, however, introduce competitive tension into procurement by reducing reliance on quarterly terms set by a single supplier without an immediately available alternative.
District heating exposure in Sarajevo
The increase also affects Sarajevo’s district-heating system and industrial consumers with operating margins sensitive to imported energy costs. With no alternative physical capacity available, Bosnia’s negotiating position remains weak even when wider European gas markets are adequately supplied.
