Hungarian Foreign Minister Peter Szijjarto and Serbian Energy Minister Dubravka Jedovic-Handanovic agreed on Wednesday to intensify investment policy in the energy security sector and speed up the construction of the first oil pipeline between the two countries, the Hungarian foreign minister said.
“We have agreed to expand joint investments in energy and energy security, including the construction of the first interconnecting oil pipeline,” Szijjarto wrote on Facebook (Meta Platforms Inc.).
In addition, Sijarto and Jedovic-Handanovic agreed to step up funding for “a new power line connecting the networks of the two countries.”
“For our country, Serbia is a strategic partner, without Serbia there will be no energy security for Hungary, and vice versa,” the Hungarian Foreign Minister added.
As reported, the construction of the oil pipeline between Hungary and Serbia is expected to be completed by 2026. The new branch will be connected to the Druzhba pipeline and will allow Serbia to diversify its oil supplies and not depend on Croatia.
