Serbia and Hungary agree on the construction of an oil pipeline

Serbia and Hungary have agreed on building an oil pipeline that would supply Serbia with ‘cheaper oil from the Urals by connecting it to the Druzhba (Friendship) pipeline’. This was announced by the Hungarian authorities.

The construction of the pipeline was agreed upon after the European Union introduced its eighth sanctions package against Russia, which restricts the import of Russian crude oil.

Hungarian government spokesperson Zoltan Kovacs wrote on Twitter that Serbian President Aleksandar Vučić and Hungarian Prime Minister Viktor Orbán had agreed on the construction of a pipeline, which would allow Serbia to source cheaper oil from the Urals.

“At present, crude oil is mainly supplied on pipelines through Croatia, but this is unlikely to be possible in the future due to the sanctions that have been adopted,” Kovacs wrote. The southern branch of the Druzhba pipeline runs from Ukraine to Hungary, Slovakia and the Czech Republic and is the main source of crude oil for these three countries.

Energy Minister Zorana Mihajlović said that only non-Russian oil would be imported into Serbia in the future via the Croatian JANAF pipeline.

“20 per cent of crude oil we use comes from our own sources, and the other 80 per cent will be non-Russian oil. As far as I know, the Petroleum Industry of Serbia (NIS), as the only importer of crude oil in Serbia, has an agreement with JANAF according to which, until 5 December, the oil they bought from Russia will be transported through this pipeline, and from then only non-Russian oil will pass through it,’ Mihajlović said.

(N1, Dnevnik, 10.10.2022)

https://rs.n1info.com/biznis/srbija-i-madjarska-se-dogovorile-o-izgradnji-naftovoda-za-spajanje-sa-druzbom/

https://www.dnevnik.rs/index.php/ekonomija/mihajlovic-necemo-vise-uvoziti-rusku-naftu-kroz-janaf-10-10-2022

 Photo credits: REUTERS/Richard Carson/File Photo

 

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