A feasibility study for the construction of an oil pipeline between Serbia and Hungary is expected to be completed by the end of the year, with the planned completion of the project by 2027, announced Adrijana Mesarović, Serbian Minister of Economy and Peter Sijarto, Hungarian Minister of Foreign Affairs and Trade. At the conference in Budapest, when it comes to cooperation between the two countries, in addition to the oil pipeline, the construction of a new transmission line is also planned, which should be completed by 2028.
The feasibility study itself generally involves the analysis of technical aspects, financial analysis – profitability, risk assessment – what can hinder the project and the like.
Foreign trade exchange between the two countries amounted to 3.1 billion euros in 2023, while it has reached 1.8 billion euros so far this year. The minister also announced the holding of a joint economic forum at the beginning of October, at which work will be done to strengthen cooperation between Serbian and Hungarian businessmen, as stated on the website of the Government of Serbia.
It was assessed that the relations between Serbia and Hungary are at a historic level, and gratitude was expressed to Hungary, the country that currently presides over the European Union, for supporting Serbia in the process of joining the Union. Mesarović pointed out that, if necessary, Serbia will help Hungary in the fight against possible floods.
In addition, efforts will be made to reduce the time spent at border crossings for logistics and forwarding companies, in order to facilitate economic exchange.
The project is normally planned with a list of priority investments as one of the most important in the field of oil supply, considering that Serbia is supplied with imported crude oil from only one direction. As the Minister of Energy said earlier, the capacity of this pipeline will be estimated at around five million tons of oil per year.
Energy portal
Source: energetskiportal.rs
