Belgrade and Budapest anticipate that the planned Serbia–Hungary oil pipeline will be completed by the end of 2027, with construction contracts likely to be signed this summer and work beginning in the autumn, announced Serbia’s Minister of Mining and Energy, Dubravka Đedovic, after discussions with Hungary’s Foreign Affairs and Trade Minister, Peter Szijjarto.
According to Minister Đedovic, most preparatory steps are already in place. The technical documentation has been finalized, required permits obtained, and the public procurement process for the Serbian section is ongoing. Authorities are also evaluating the addition of a parallel product pipeline to transport refined petroleum products in both directions, enhancing supply resilience without disrupting operations at the Pancevo refinery. The tender process has faced challenges, as Transnafta temporarily suspended further procurement steps following a formal complaint. The bidding deadline was extended from 5 February to 26 February, and tender documents were amended multiple times to clarify technical provisions.
The Ministers also discussed broader energy cooperation, including negotiations on a comprehensive intergovernmental agreement. Technical teams from both countries are working intensively to align the text, especially regarding a potential transaction involving Serbia’s oil company NIS. Minister Đedovic emphasized that protecting national interests is a priority, given NIS’ central role in securing crude and fuel supplies and supporting economic growth. Discussions include Serbia potentially acquiring a 5 % stake in NIS, as well as issues related to the Pančevo combined heat and power plant, Petrohemija, and other assets connected to NIS operations.
Belgrade is also advocating for stronger regional integration in electricity transmission, with projects underway to connect high-voltage networks with Hungary, Romania, and Bosnia and Herzegovina.
Minister Szijjarto highlighted that Hungary’s MOL Group has significantly increased exports to Serbia to prevent supply disruptions during winter. He added that NIS is prepared to ship additional eurodiesel to Hungary if needed. The Hungarian Minister also noted that negotiations between Russian stakeholders and MOL regarding the sale of NIS are ongoing, with consultations involving US authorities to secure final approvals from both Serbia and Hungary.
