Péter Szijjártó, Minister of Foreign Affairs and Trade, said that in a bid to improve energy security, Hungary and Serbia will build a 128km oil pipeline between Algyő in Hungary and Novi Sad (Újvidék) in Serbia.
Speaking in Belgrade on Wednesday, after a meeting of the mixed economic committee, Minister Szijjártó said a contract on the planned project to be implemented by Hungary’s state oil company MOL and Serbia’s Transnafta will be signed at the summit meeting of the two countries’ governments on June 20. At Wednesday’s meeting it was agreed that Hungarian energy company MVM and Serbia’s gas supplier Srbijagas will set up a joint regional natural gas trading company and Hungary will store 100 million cubic metres of gas on behalf of Serbia, Szijjártó said. Hungarian companies will also participate in upgrading Serbia’s electricity network, he said, adding that work was going according to schedule on doubling the capacity of the interconnector linking the two countries’ electricity networks. He said the committee also made a decision on a large-scale infrastructure development project to cut waiting times at the border of two countries by building a modern border-crossing station between Röszke and Horgos.
Photo credit: Facebook/Szijjártó Péter