Serbia to Invest EUR 100 mln in Oil Pipeline With Hungary

Energy Trade

maradon 333/

Serbia plans to invest EUR 100 million in the construction of an oil pipeline to Hungary which will help diversify the country's energy sources, the country's Energy Ministry said last week, according to news portal SeeNews.

Officials of state-owned oil storage operator Transnafta, which will carry out the construction work on Serbian territory, will start talks on the technical details of the project with representatives of the Hungarian side, the ministry said in a statement.

The 128-km pipeline will link the northern Serbian city of Novi Sad to Algyő in the south of Hungary. Further details about the project were not disclosed. "The implementation of this project would ensure the diversification of crude oil supply and increase the security of supply to the Pančevo oil refinery," Energy Minister Dubravka Đedović was quoted as saying.

The Pančevo refinery is operated by Serbia's sole oil and gas group NIS, majority-owned by Russia's Gazprom.

Furthermore, the total cost of transporting crude oil would be lower compared to transport via the Omisalj oil terminal in Croatia, Đedović added. 

Lender Liquidity Increases Further Banking

Lender Liquidity Increases Further

Hungary Condemns Iranian Attack on Israel Int’l Relations

Hungary Condemns Iranian Attack on Israel

Home Rental Rates in Hungary Rise 11.7% in March Residential

Home Rental Rates in Hungary Rise 11.7% in March

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D... Hotels

Tribe Hotel Budapest Stadium Recognized at LIV Hospitality D...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.