Serbia-Hungary Oil Pipeline to Exceed 100 Kilometers in Length | Beta Briefing

Serbia-Hungary Oil Pipeline to Exceed 100 Kilometers in Length

Source: Beta
Archive / News | 10.05.23 | access_time 18:04

Peter Szijjarto (Betaphoto/Milos Miskov)

A new oil pipeline will be constructed between the town of Algyo in Hungary and Novi Sad in Serbia, its length exceeding 100 kilometers, Hungarian Foreign Minister Peter Szijjarto stated at the news conference in Palace Serbia after a meeting with Serbian Minister for Trade Tomislav Momirovic.

“The pipeline will be constructed in cooperation of Hungary’s company MOL and the Serbian company Transnafta, and the agreement will be signed at a joint session of the two governments,” Szijjarto said, adding that several decisions were adopted during their meeting, which would contribute to an improvement of the energy situation in both countries.

In his words, Hungary’s state electricity utility MVM and Srbijagas will form a mixed enterprise and the Hungarian company will participate in modernizing the Serbian electricity grid. It was agreed for 100 million cubic meters of Serbia’s gas to be stored in Hungary’s storage facilities, and that the capacities of connectors in the electricity grid would be doubled.

According to Szijjarto, the construction of a new border crossing Santovo-Backi Breg, in keeping with European standards, which would relieve the existing crossings, is also being planned.

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