Hungary, Serbia Set to Build New Oil Pipeline
(MENAFN) Hungary and Serbia have agreed to develop a new oil pipeline aimed at strengthening regional energy security and safeguarding the benefits of Hungary’s recent utility price cuts, announced Hungarian Foreign Affairs and Trade Minister Peter Szijjarto on Monday.
Following discussions with Russian Deputy Energy Minister Pavel Sorokin and Serbian Energy Minister Dubravka Dedovic, Szijjarto revealed that the pipeline could become operational as soon as 2027. The initiative includes building around 180 kilometers of new pipeline infrastructure on Hungarian soil, with a projected annual throughput capacity of up to five million tons.
Szijjarto expressed strong criticism of recent European Union policies, which he argued jeopardize Europe’s energy stability by targeting a complete phase-out of Russian oil and gas imports.
“They want us to stop using Russian oil and gas altogether. They want to shut down transport routes. The result is clear across Europe: people now pay multiple times more for energy than in other parts of the world,” he stated.
He emphasized Hungary’s dedication to ensuring affordable energy for its citizens, underscoring the importance of expanding infrastructure and diversifying energy sources to help stabilize prices across the continent.
Following discussions with Russian Deputy Energy Minister Pavel Sorokin and Serbian Energy Minister Dubravka Dedovic, Szijjarto revealed that the pipeline could become operational as soon as 2027. The initiative includes building around 180 kilometers of new pipeline infrastructure on Hungarian soil, with a projected annual throughput capacity of up to five million tons.
Szijjarto expressed strong criticism of recent European Union policies, which he argued jeopardize Europe’s energy stability by targeting a complete phase-out of Russian oil and gas imports.
“They want us to stop using Russian oil and gas altogether. They want to shut down transport routes. The result is clear across Europe: people now pay multiple times more for energy than in other parts of the world,” he stated.
He emphasized Hungary’s dedication to ensuring affordable energy for its citizens, underscoring the importance of expanding infrastructure and diversifying energy sources to help stabilize prices across the continent.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
- Motif AI Enters Phase Two Of Its Growth Cycle
- 1Inch Unlocks Access To Tokenized Rwas Via Swap API
- Kucoin Presents Kumining: Embodying Simple Mining, Smart Gains For Effortless Crypto Accumulation
- With Seal, Walrus Becomes The First Decentralized Data Platform With Access Controls
- Jpmorgan Product Head Joins GSR Trading MD To Build Institutional Staking Markets
- Innovation-Driven The5ers Selects Ctrader As Premier Platform For Advanced Traders
More Story
Comments
No comment