Transneft offers design services, expert assessment for pipeline from Hungary to Serbia

MOSCOW. Oct 16 (Interfax) - Transneft is ready to assist with the design of an oil pipeline from Hungary to Serbia.

"Given the challenging sanctions environment, it is difficult for us to provide any assistance. However, we have nonetheless offered design opportunities, if necessary, based on an expert assessment of the project," Transneft Vice President Vladimir Kalanda told reporters during the Russian Energy Week.

"Our colleagues have taken a timeout to consider this, and we will participate in this project to the best of our ability if it is acceptable within the European community," he said.

The pipeline will be operational by 2027 according to plans. Approximately 180 km of new infrastructure will be built in Hungary, and 120 km in Serbia.

In early July, Transneft and Hungary's MOL signed an agreement on technical compliance with the specifications for the construction of the oil pipeline. The commercial aspects of the project are expected to be determined soon.