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Hungary’s FM announced new oil pipeline with Serbia

The energy security of the two countries is closely intertwined, emphasised Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó during his visit to Belgrade.

The minister confirmed the construction of a 128-kilometre-long crude oil pipeline between Algyő (Hungary) and Novi Sad (Serbia) to further strengthen the security of supply of the two countries.

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The construction contract of the planned pipeline between Hungary’s MOL and Serbia’s Transnafta will be signed at the government summit on 20 June, the Hungarian minister announced on Wednesday in Belgrade.

Hungary and Serbia also agreed that MVM and Srbijagas will establish a joint regional natural gas trading company and also that Hungary will store 100 million cubic metres of natural gas for Serbia this year as well.

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