Construction of oil pipeline between Hungary and Serbia to be completed by 2026

MOSCOW. Dec 2 (Interfax) - The construction of an oil pipeline between Hungary and Serbia will be completed by 2026, according to the Pipeline Transport of Oil journal.

"The project for constructing the main oil pipeline between Hungary and Serbia is one of the most important for Transnafta Pancevo. The new branch will be connected to the Druzhba pipeline. We will be able to diversify oil supplies and will not depend on Croatia," JSC Transnafta Pancevo Executive Director Alexander Durdev said.

As reported, Russia and Serbia have signed a memorandum of cooperation between the two countries' major oil and gas companies, which will form the basis for creating and maintaining oil transport infrastructure in Serbia.

Transneft plans to diversify oil supplies to Serbia, the company's vice president Vladimir Kalanda told journalists. "Currently, they have one pipeline coming from Croatia. They plan to build a pipeline that will pass through Hungary, which will directly connect to Druzhba. This will make them more independent in oil supplies and significantly increase the volume of oil supplied to Serbia for domestic consumption," he said.

The pipeline will be approximately 300 kilometers long, Kalanda said. "Serbia is seeking our assistance. We are ready to help with implementing this project," he said.