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The Government of the Republic of Serbia

In the service of citizens

Cooperation between Serbia, Hungary in field of energy

Belgrade/Budapest, 20 April 2023

Minister of Mining and Energy Dubravka Djedovic spoke today in Budapest with Minister of Foreign Affairs and Trade of Hungary Péter Szijjártó about cooperation between the two countries in the field of energy and new joint projects for which new agreements will soon be signed.

Djedovic said at the joint press conference that at today's meeting it was agreed to sign two agreements that will be signed at the joint session of the two governments.

The Minister stated that the first agreement refers to the construction of the Hungary-Serbia oil pipeline, which will enable greater security of crude oil supply, adding that the preparation of design and technical documentation for that project, whose estimated value is approximately €100 million, is beginning.

She pointed out that the second agreement concerns the establishment of a joint enterprise for energy trade owned by Srbijagas and the Hungarian company MVM.

We have already extended the gas storage lease contract, and we are also discussing increasing the storage capacity in Hungary for the needs of our country before the next heating season, the Minister said.

She noted that the value of electricity trade between the two countries last year was €77 million and that the plan is to further connect Serbia and Hungary in the power sector.

Szijjártó said that the issue of providing energy sources is also a security issue.

Strategic cooperation in the field of energy is a guarantee that the supply of our countries will be secured, Szijjártó pointed out.

He expressed his gratitude to Serbia for the safe transit of gas that reaches Hungary daily up to 10 million cubic meters and said that Serbia can also count on gas storage capacities in Hungary in the next heating season.