The construction of a new crude oil pipeline between Serbia and Hungary will begin at the end of 2025 or early 2026 and is planned to be operational in 2028, Hungarian Foreign Minister Peter Szijjarto said on Wednesday.
Speaking at a news conference with Serbian Energy Minister Dubravka Dedovic Handanovic in the Serbian capital Belgrade, Szijjarto said they have completed the preliminary examination phase in Hungary.
Stressing that Hungary’s international oil and gas company MOL Group also presented the examination study to the two countries, he said Hungary accepted it and that Serbia approved the area required for construction.
Stating that the pipeline will be about 190 kilometers (118 miles) long, Szijjarto said that this marks an important investment for the region.
The pipeline will have an annual capacity of 4 to 5 million tons, he said, adding that Serbia will be able to meet all its oil needs via Hungary.
Handanovic also thanked Hungary for its support.
In 2023, Serbia and Hungary announced that a crude oil pipeline would be built between the two countries.
