Energy Crisis

Hungary, Serbia agree to improve energy cooperation

serbia hungary mali szijjártó gas power line cooperation energy crisis

Photo: Siniša Mali/Facebook

Published

May 26, 2022

Country

Comments

1

Share

Published:

May 26, 2022

Country:

Comments:

1

Share

Hungary and Serbia plan to strengthen energy ties in order to ensure a stable energy supply and achieve energy security during the energy crisis, Hungarian Foreign Minister Péter Szijjártó and Serbian Finance Minister Siniša Mali said after a meeting in Budapest.

The two countries plan to build a new power line, jointly procure electricity and strengthen cooperation between state-owned energy companies MVM and Elektroprivreda Srbije (EPS), as well as to invest in renewable energy sources. One of the discussed projects is pumped storage hydropower plant Bistrica.

Mali and Szijjártó also agreed Serbia would store 500 million cubic meters of gas in Hungary for use during the winter.

Serbia will be able to use Hungarian gas storage facilities

Foreign Minister Péter Szijjártó pointed out Serbia would be able to use a part of his country’s gas storage. Hungary has a total capacity of six billion cubic meters.

According to Finance Minister Siniša Mali, the injection of gas in two storage units is planned to start by the end of June. From October, Serbia will be able to withdraw three million cubic meters per day, then from November to February six million, and in March three million cubic meters per day, he said.

Mali: A new transmission line will allow the two countries to exchange surplus electricity

He said the two countries intend to build a new power line, and that the details would be defined in the coming days. The new transmission link will enable Serbia and Hungary to send surplus energy to each other, he added, while Szijjártó estimated it would take six to eight years to complete the investment.

Mali also said Serbia and Hungary plan to jointly procure electricity on the international market in order to achieve a better price. He talked to Szijjártó about strengthening the cooperation between the two countries’ government-controlled power utilities MVM and EPS, and revealed that representatives of the Hungarian company should come to Belgrade next week.

The two sides also discussed joint investment in Bistrica and in renewable energy projects, he added.

Szijjártó: We must pay more attention to each other

Hungarian Foreign Minister Péter Szijjártó said the insecurity caused by the war in Ukraine increased the importance of cooperation between the two countries.

Hungary and Serbia have agreed to pay more attention to each other at a time when energy supply has been disrupted and to guarantee each other’s supply lines, Szijjártó said.

He noted Hungary receives 10 million cubic meters of gas a day through the South Stream gas pipeline, which passes through Serbia, and that it is very significant for his country.

Comments (1)
Beate Liebold / May 27, 2022

Looking forward to the cooperation between the two countries. Ugyanakkor érdekel az új magassebeségű vasútvonal Budapest és Belgrád között. 😁

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Tender for desulphurization plant construction in TPP Tuzla open until November 15

Tender for desulphurization unit in Tuzla coal plant open until November 15

04 October 2022 - State-owned power utility EPBiH announced a tender for a flue gas desulphurization facility for unit 6 in TPP Tuzla

epcg gvozd 2024.

EPCG secures financing for Gvozd wind farm

03 October 2022 - EPCG is blaming the pandemic for the delay in the implementation of the 54.6 MW Gvozd wind farm project, Vijesti reported

CE Oltenia OMV Petrom four PV plants JVs

CE Oltenia, OMV Petrom to build four PV plants through JVs

03 October 2022 - OMV Petrom and CE Oltenia agreed to build four solar parks with a combined capacity of 450 MW at former coal mining locations in Romania

solar wind investments EU price cap

Wind, solar investors threaten to leave Europe because of revenue cap

03 October 2022 - The EU's wind and solar industries are threatening investments could go elsewhere after EU energy ministers voted to roll out revenue caps