Peter Szijjarto: We are moving forward with plans to build new oil pipeline between Hungary and Serbia

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Hungarian Foreign Minister Peter Szijjarto stated on Monday that his country is "moving forward, with Serbian and Russian partner, to build a new oil pipeline between Hungary and Serbia."

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"While Brussels is banning Russian energy, cutting links and blocking routes, we need more sources, more routes. Hungary won't fall victim to these disastrous decisions," Szijjarto added in a post on X.

After a video conference with Serbian Minister of Energy Dubravka Djedovic Hadanovic and Deputy Energy Minister of Russia Pavel Sorokin, Szijjarto stated that the envisaged capacity of the future oil pipeline will be up to 5 million tons per year.

According to the plans, the pipeline will be operational by 2027.

About 180 kilometers of the new pipeline will be built in Hungary, and an additional 120 kilometers in Serbia, while a measuring and control station will be set up on the border between the two countries, reports TASS.

This is the first time that Russian participation in the project has been officially confirmed, although Budapest and Belgrade have been actively negotiating about this strategic connection for a year.

In February, the Hungarian government announced an investment in the project worth 320 million euros spread over three years, and the feasibility study has already been completed.

The oil pipeline will connect the MOL refinery in the town of Szazhalombatta with the village of Aldyo in the south of Hungary, and with Novi Sad in northern Serbia.

The project is being developed by Hungary's MOL and Serbia's Transnafta, and is expected to play a key role for both countries, especially due to increasing transit costs for oil shipped through Ukraine and Croatia.

(Telegraf Biznis/Tanjug)