Minister of Mining and Energy Dubravka Djedovic Handanovic spoke today in Budapest with Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto, about joint projects in the energy sector and cooperation between two countries in the field of gas, oil and electricity supply.
After the meeting, Djedovic Handanovic emphasized that regional cooperation is the key to achieving energy security, and that cooperation between Serbia and Hungary in several fields, especially in the energy sector, proves this.
In addition to cooperation in the area of gas supply, we intend to connect better in the oil supply and in the transmission of electricity, the minister said, adding that the energy supply is stable and , in addition to domestic reserves, we currently have 163 million of cubic meters in stock in warehouses in Hungary.
Djedovic Handanovic stated that during today's meeting, there was talk about the dynamics of using existing supplies and conditions for securing an additional amount of gas, which will contribute to greater security in the coming winter as well.
Djedovic Handanovic pointed out that at this meeting the Serbia-Hungary oil pipeline was marked as one of the priority projects in the energy sector for both countries.
She stated that the goal is to start the works next year, so that the oil pipeline, 128 km long, will be completed by 2027, specifying that the value of the investment is estimated at approximately €150 million.
The capacity will be approximately five million tons of oil per year, the minister explained and added that both sides agree that it is necessary to act quickly and in harmony.
Djedovic Handanovic reminded that the two countries are jointly building the Pannonian Corridor, the construction of which will double the capacity for electricity transmission between Serbia and Hungary.
The investment in the Pannonian Corridor is worth more than 100 million euros and the goal is to complete it in the next four years, she stated, noting that the plan is for Hungary to join the first regional electricity exchange, which Serbia established with Slovenia, which would should be implemented in the next few weeks.
Szijarto stated that security of supply remains a priority for Hungary, and announced that the country will join the regional electricity exchange.
During her visit, the Minister of Mining and Energy also participated in the Budapest Balkans Forum, where she spoke about plans for the development of the energy sector in the coming period.
Djedović Handanovic pointed out that Serbia's strategic goal is energy independence at the lowest price for citizens and the economy, and that is why it is focused on three things.
The first thing is security of supply through the construction of new infrastructure, such as the completed gas interconnection with Bulgaria, and in the future with North Macedonia and Romania.
The second is to achieve greater energy independence by building new production capacities, for which we need Bistrica and Djerdap 3, as well as new solar capacities of one gigawatt.
The third is the strengthening of regional connectivity, that is, energy networking with neighboring countries.
Source: www.srbija.gov.rs