New Oil Pipeline to Be Constructed as Hungary and Serbia Reach Agreement

Budapest, April 20 – Hungarian Minister of Foreign Affairs and Foreign Economic Relations Peter Sijarto said that Hungary and Serbia plan to sign an agreement on investments in the construction of a new oil pipeline between the two countries in June.

“We are actively working on preparations for the construction of a new oil pipeline that will connect Aldio and Novi Sad. This new oil pipeline improves the energy supply of both countries. MOL and Transnafta continue negotiations on new investments in it, the agreement on which is scheduled to take place Signing in June at the Hungarian-Serbian summit,” Szijjarto said at a press conference with Serbian Energy Minister Dubravka Djedović.

Dejovic added that an intergovernmental agreement on the establishment of a Hungarian-Serbian joint energy company should also be signed in Serbia in June.

Earlier, Serbian President Aleksandar Vucic said that his country, under an agreement with Hungary, will build a 128-kilometer oil pipeline to connect Hungarian oil pipelines. According to him, the Serbian authorities will invest 12 billion euros in energy infrastructure over the next six years.