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The Government of the Republic of Serbia

In the service of citizens

Regional cooperation key to energy stability

Belgrade/Budapest, 12 March 2024

Minister of Mining and Energy Dubravka Djedovic Handanovic spoke today in Budapest with Minister of Foreign Affairs and Foreign Trade of Hungary Peter Szijjarto, about joint projects in the energy sector and cooperation between the two countries in the field of gas, oil and electricity supply.

Djedovic Handanovic stated that during today's meeting, there was talk about the dynamics of using existing supplies and the conditions for securing an additional amount of gas, which will contribute to greater security in the coming winter as well.

Djedovic Handanovic pointed out that at this meeting the Serbia-Hungary oil pipeline was marked as one of the priority projects in the energy sector for both countries.

She stated that the goal is to start the works already next year, so that the oil pipeline, 128 km long, will be completed by 2027, specifying that the value of the investment is estimated at approximately €150 million.

The capacity will be approximately five million tons of oil per year, the minister explained and added that both sides agree that it is necessary to act quickly and in harmony.

Djedovic Handanovic reminded that the two countries are jointly building the Pannonian Corridor, the construction of which will double the capacity for electricity transmission between Serbia and Hungary.