Hungary is moving forward with plans to construct a new oil pipeline in partnership with Serbia, aimed at strengthening energy security and maintaining the country’s reduced utility prices. Foreign Minister Péter Szijjártó made the announcement on Monday in Budapest following talks with Serbia’s Energy Minister Dubravka Dedović and Russian Deputy Energy Minister Pavel Sorokin.
According to Szijjártó, the pipeline could be operational as early as 2027 and would have the capacity to transport up to five million tonnes of oil annually. Hungary will need to build roughly 180 kilometres of pipeline to connect to the Serbian network.
The minister framed the initiative as a direct response to European Union policies, which he said jeopardize energy stability. ‘Brussels keeps taking decisions that severely undermine European energy security,’ he stated. ‘They want to cut off Russian oil and gas and shut down supply routes. The result? Energy prices in Europe are now multiple times higher than elsewhere.’
Szijjártó argued that Hungary has so far been able to protect its system of regulated utility prices, but warned that further EU pressure to abandon Russian energy would significantly raise household costs. ‘They want Hungarian families to pay two to four times more. We won’t let that happen,’ he said.
He emphasized that rather than closing down supply channels, Europe should be opening new ones. ‘New sources and new pipelines are the key to lowering prices across the continent,’ he added.
The minister confirmed that detailed talks had been held on the pipeline project’s feasibility and its current planning phase. He stressed Hungary’s continued commitment to defending its utility price reduction programme. ‘Brussels wants to cut energy sources and dismantle pipelines. We’re doing the opposite: building new infrastructure and unlocking new supply routes to keep Hungarian energy bills among the lowest in Europe,’ he concluded.
Related articles:
