Djedović Handanović, Sorokin and Szijjártó Discuss the Implementation of the Serbia-Hungary Oil Pipeline Project

“The oil pipeline between Serbia and Hungary has not only commercial but also broader strategic importance for the long-term energy security of our countries. It would connect us to one of the largest oil pipelines in Europe and, for the first time, provide an alternative oil supply route, which is important for supply security. In early July, the companies Transnafta and MOL signed an agreement on the technical alignment of specifications for the construction of the oil pipeline, marking a major step forward and a turning point in the development of the project. In the coming period, we expect to define the commercial aspects of the oil pipeline construction, as well as the oil capacities required by NIS,” she stated.

The Minister emphasized that the governments of Serbia, Hungary, and the Russian Federation support the implementation of this project, which would provide Serbia with an additional route for crude oil supply over the next several decades.

“Just as Serbia plays an important role in supplying Hungary with gas via the Balkan Stream gas pipeline, while simultaneously utilizing storage capacities in Hungary for its own energy stocks, the construction of this oil pipeline will enable Serbia to secure crude oil deliveries through Hungary, thereby further strengthening its energy security. Diversifying supply routes is essential for enhancing our security and reducing dependence on a single supply route, especially given the increasingly unstable geopolitical context,” the Minister stated.

Djedović Handanović stated that the Serbian side has made progress in preparing the design and technical documentation and will be ready to commence works at the beginning of next year, while according to Minister Szijjártó, the works on the Hungarian section are also expected to start next year.

The meeting participants agreed on the importance of supply diversification and the construction of new energy routes, which contribute to greater reliability in securing energy resources. Additionally, it was agreed that communication between the parties will continue in the coming period, with the aim of aligning commercial terms.