BREAKING: Hungary and Serbia to build joint oil pipeline
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.
Szijjártó: Hungary, Serbia both attach strategic importance to bilateral relations
Both the Hungarian and Serbian governments attach strategic importance to continually developing bilateral relations, the foreign minister said, adding this was sorely needed given the emergence of a new world order. Szijjártó said a new world order and new realities were developing in the wake of the inauguration of the new US president, according to a ministry statement.
He added that this was “good news” because Donald Trump pursued patriotic policies, confronted “woke ideology” and had put an end to the previous “shameless interference” in the domestic affairs of foreign countries. “At the same time, we can of course still see continual attacks against patriotic and sovereigntist governments… But what’s changed is that instead of both Brussels and Washington, these attacks solely come from Brussels. This is not pleasant but much easier to ward off,” he said.
“Of course, we’re monitoring events in Serbia and can see the attempts at destabilisation underway. We Hungarians have a vested interest in stability and peace in Serbia,” he said. Szijjártó welcomed efforts by the Serbian president and government that he said were unavoidable for developing bilateral relations.
He praised the results of cooperation between the two countries, citing the modernisation of rail links between the two capitals and mutual contributions to each other’s energy security. He also said that Europe’s most modern and largest border crossing will be built at Röszke, enabling the fastest possible journeys between the two countries. He added that a decision has been made to extend the opening hours of already operating border crossings.
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