Government Strengthens Energy Cooperation with Serbia

Hungary and Serbia have strengthened their strategic cooperation in the field of energy, as both countries aim to continue securing supplies at competitive prices, said Foreign Minister Péter Szijjártó.

Following the Hungarian-Serbian summit held in Belgrade over the weekend, the Minister said that the issue of energy security in Central Europe was on the agenda, as a number of decisions have been taken recently in the world that have created difficulties for the supply of some countries in the region. As an instance, he mentioned the new sanctions imposed by the outgoing US administration, the halting of gas transit through Ukraine, and the fact that the TurkStream pipeline has also come under attack.

During the summit, Hungary’s Prime Minister Viktor Orbán met Aleksandar Vučić, Serbia’s President, to discuss solutions for high energy prices. “We want to make energy affordable for our people and our companies. This is what we worked on today in Belgrade with President Vučić. Thank you for your hospitality!” Prime Minister Orbán wrote on social media.

We want to make energy affordable for our people and our companies. This is what we worked on today in Belgrade with President @avucic . Thank you for your hospitality! pic.twitter.com/xm4yvhkZTO

— Orbán Viktor (@PM_ViktorOrban) January 18, 2025

Péter Szijjártó informed the media that the Hungarian government has recently taken steps to secure energy supplies. “We have interconnected our gas system with six of our seven neighbors, and despite all the pressure we have faced, we have not given up on the construction of the TurkStream pipeline,” he said. He underlined that last year 7.6 billion cubic meters of natural gas reached our country via this route, an absolute record.

He added that Serbia is in a similar situation, and that

it is in the common interest of Hungary and Serbia (…) that the TurkStream pipeline operates reliably and safely. In order to achieve this, we have strengthened our cooperation in the knowledge that the energy security of Hungary and Serbia cannot exist without each other,”

the Minister noted.

Péter Szijjártó said that

an agreement had also been reached to speed up joint energy investments.

In this context, he pointed out that the development of the doubling of the capacity of the electricity interconnection is well underway, with work scheduled to be completed in 2027-28. In addition, a feasibility study has been completed for the oil pipeline linking the Hungarian and Serbian grids, which will take about three years to complete. The Minister also welcomed the launch of the Hungarian-Serbian-Slovenian joint electricity exchange and the increasing number of orders for the Hungarian-Serbian joint natural gas trading company.

Ukraine “willing to take Hungary’s place” in the EU amid Heated Gas Debate