Serbia expects to quickly reach agreement with Hungary on building oil pipeline to Druzhba system

RAS AL KHAIMAH. Dec 6 (Interfax) - Serbia expects to quickly reach agreement with Hungary on building an oil pipeline to the Druzhba system, Serbian Deputy Prime Minister Aleksandar Vulin said on the sidelines of the 17th Verona Eurasian Economic Forum.

"I expect to us to reach agreement with Hungary very quickly. As you know, we have a project for this oil pipeline, and we're already working on agreement with the Hungarian side," he said.

"We hope to reach agreement with Hungary next year," he said.

As reported, construction of an oil pipeline between Hungary and Serbia is expected to be completed by 2026. The new line will be connected to the Druzhba oil pipeline and will allow Serbia to diversify its oil supplies, removing its dependence on Croatia.

Russia and Serbia previously 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 will assist Serbia in constructing the 300 km long pipeline.