BREAKING: Hungary and Serbia to build joint oil pipeline
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Hungary and Serbia are ready to construct a new oil pipeline, building on their previous successes. This major investment will enhance energy security for both countries, as announced by Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó in Belgrade on Thursday.
Following discussions with Serbian Energy Minister Dubravka Đedović, Szijjártó highlighted that the two countries will soon embark on another significant energy security investment: the construction of a new oil pipeline that will contribute to the supply of both Hungary and Serbia.
Project details
- The feasibility study has already been completed.
- The pipeline will span approximately 180 kilometres in Hungary and 120 kilometres in Serbia.
- Annual capacity is estimated at around 5 million tons.
- In Hungary, construction will follow a Százhalombatta-Algyő-Röszke route, including an international measuring station.
- The investment on the Hungarian side is estimated at about EUR 320 million and will take three years to complete.
Szijjártó also mentioned progress on another project aimed at doubling the electricity transmission capacity between the two countries by 2028.
Energy security and regional cooperation
The minister emphasised the importance of close cooperation and continuous consultation between countries with limited energy resources, especially given the frequent energy crises often caused by “political hysteria”. He stated that “there is no Hungarian energy security without Serbia, and no Serbian energy security without Hungary”.
Important points of data about Serbia-Hungary cooperation:
- Nearly 100% of Hungary’s natural gas supply comes through Serbia.
- In the previous year, a record 7.6 billion cubic meters of natural gas reached Hungary via Serbia through the TurkStream pipeline.
- Serbia has proven to be a reliable transit country, ensuring stable gas supply to Hungary.
Regional challenges
Szijjártó addressed the recent U.S. sanctions on a Russian company supplying oil and fuel to Serbia, calling it a common problem for the region. He warned that this could lead to price increases if Serbian refining capacities are removed from the regional supply. The minister expressed hope for resolving this situation in the short term, stating that they have agreed to maintain close regional cooperation to prevent any disruptions in the regional fuel market due to the sanctions.
Great idea. The less Hungary has to do with corrupt Ukraine the better off Hungarians will be.
@MVT, who will supply the crude oil?
Excellent news although energy independence should be absolute top priority. You never knows which way the winds of change might blow: Serbia might become as unreliable tomorrow as the corrupt Ukraine is today.
Having said that, I’m buyin’ whatever that cute Dubravka over yonder is sellin’, let me tell you that right now!
then go and check the stats of crude oil reserves in Serbia and tell me if you will become independent…
The oil comes from Russia, a reliable supplier. Thank you Russia.
well Done Maria, is there a pipeline from Russia to Serbia? how can you bypass Ukraine if there is not a pipeline ?
Maria, I’m still waiting for your reply.