Djedovic Handanovic discusses Serbia-Hungary oil pipeline with Sorokin, Szijjarto

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic spoke with Russia's Deputy Minister of Energy Pavel Sorokin and Hungary's Minister of Foreign Affairs and Trade Peter Szijjarto about implementation of a project to build a Serbia-Hungary oil pipeline.

Djedovic Handanovic noted that the oil pipeline had commercial as well as broader strategic importance for long-term energy security.

"It would connect us to one of Europe's largest oil pipelines and give us our first alternative oil supply route, which is important for security of supplies. In early July, Transnafta and MOL signed an agreement on technical harmonisation of specifications to build the oil pipeline, which represents an important step forward and a landmark in project development. In the coming period, the commercial aspect of building the oil pipeline is expected to be defined, as are the oil capacities needed by NIS," she said.

She said the project was supported by the Serbian, Hungarian and Russian governments and would ensure another crude oil supply route to Serbia for decades to come.

"Just like Serbia has an important role in supplying Hungary with gas through the Balkan Stream gas pipeline while using Hungary's storage capacities for its own reserves, the construction of this oil pipeline will make it possible for Serbia to ensure crude oil supplies via Hungary, which will boost its energy security further," she said, adding that this was important in an "increasingly volatile geopolitical context."

She said the Serbian side had made progress in preparing design and technical documentation and would be ready to start construction works in early 2026, while Szijjarto said the works on the Hungarian stretch of the pipeline were also set to begin next year.