“We have brought European standards to Serbia, educating customers and redefining market dynamics,” says Ljubomir Nedeljković, CEO of MET Group’s local subsidiary. The presence of MET SRB, the Serbian subsidiary now celebrating its 10th anniversary, has been a catalyst – steering the energy dialogue towards efficiency and innovation, enhancing security of supply.
MET SRB’s aspirations extend beyond the country’s borders, with a focus on fostering market integration, allowing the region to obtain new sources of pipeline gas and, later on, to access the global LNG markets, as well as bringing the international experience of MET Group. Ljubomir Nedeljković is convinced that this can result in real source diversification, further strengthening Serbia’s security of supply. “We aim to create synergies while ensuring supply stability. In order to secure our regional expansion, we have just established MET Energy BiH, an entity in Bosnia, while licensing is ongoing,” the CEO adds.
The last decade has been a remarkable growth story for MET SRB. The local team, supported by MET Group's global expertise, has carved a position in Serbia's energy trio: gas, power, and oil products. The figures speak for themselves – from being a significant LPG market player in Serbia to achieving a 70 GWh power sale in the winter of 2021/2022, business activities have become stronger and stronger.
Right now, the company is gearing up for an exciting phase: the anticipated liberalization of the gas market, set to commence on the 1st of October 2024. This will allow the Serbian subsidiary to return to the end customer market.
“Facing tumultuous times, from pandemics to geopolitical upheavals, our team's perseverance, agility, and innovation have been our fortress. Being a small team, we possess a significant capacity to adapt,” MET SRB’s top executive says. Operating in a risky business environment has led the company to establish strict credit terms and robust risk mitigation strategies. “As a result, when a crisis hits, we are not just prepared to avoid potential losses, but also to seize new opportunities,” the CEO explains.
Ljubomir Nedeljković compares MET SRB’s journey to a strategic game of chess, in a context of state giants and ambiguous rules. However, this also has benefits - each move may unveil unique opportunities, injecting a thrilling dynamism into everyday business activities.
Being a MET Group subsidiary has given the company trust and credibility. According to the CEO, this set-up has been key in unlocking doors to ambitious projects. Looking ahead to the next decade, he sees MET SRB not just amongst the top 3 local market players, but also as a cornerstone in the energy narrative of the entire Balkan region.
