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Serbia’s president announces 12 bln euros investments to diversify the oil and gas infrastructure

Following the ban on crude oil imports from Russia, Serbia’s president Aleksandar Vučić announced investments worth 12 billion euros to diversify the country’s infrastructure in the next 6 years, thus ensuring the security of supply.

“We have to start diversifying oil sources and pipelines,” he said during his address to the Nation. In this regard, he mentioned the importance of building the 128-kilometre pipeline that will connect Serbia to Hungary. “This will give Serbia another supply route and the opportunity to choose what it is more favourable,” the President added.

Also, there is the idea to build an oil pipeline through North Macedonia that will arrive at the port of Durrës, connecting Serbia with another oil and gas pipeline, a project that would cost up to 100 million euros. 

Further investments, from different international partners, are also coming to Serbia, especially in the renewable energy sector so as to “ensure additional security of supply for our citizens and our economy,” said the President.

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