Electricity

Serbia, Hungary continue strengthening energy cooperation

Serbia and Hungary continue to strengthen energy cooperation

Photo: Ministry of Mining and Energy/ Nenad Kostić

Published

February 14, 2025

Country

Comments

comments icon

0

Share

Published:

February 14, 2025

Country:

Comments:

comments icon

0

Share

Minister of Mining and Energy of Serbia Dubravka Đedović Handanović, met with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó to discuss strengthening bilateral energy cooperation, including new projects in the fields of gas, oil, and electricity. They highlighted the importance of mutual support in maintaining regional energy stability, while also addressing challenges related to the imposition of sanctions on Serbian oil refiner and producer NIS.

At the meeting, Đedović Handanović thanked Hungary for its support to Serbia and NIS regarding sanctions and for helping maintain regional oil supply stability.

“We requested a 90-day delay for the sanctions. I believe the State Department is considering it. We are awaiting response from the Russian side as well, given that they too need to conduct certain steps, as their company is about to be hit by sanctions,” she stated.

She highlighted the challenges with financial institutions concerning loans to NIS and payment operations. “Banks won’t be willing to work with a company under sanctions, which jeopardizes credit card payments at gas stations,” said Đedović Handanović.

Gas transit to Hungary from Serbia increased last year

One of the key topics discussed was gas supply cooperation. Gas transit volumes from Serbia to its northern neighbor increased last year.

“Hungary is our reliable partner in storing gas, with about 49 million cubic meters currently in their storage facilities. I expect us to continue the cooperation after April 1, and discussions are underway between gas companies regarding commercial terms,” Đedović Handanović emphasized.

She said the construction of the Serbia-Hungary oil pipeline is expected to begin early next year at the latest, adding it would enhance regional energy security.

Szijjártó: There is no energy security for Hungary without Serbia

Hungarian Minister Péter Szijjártó pointed to the importance of strengthening regional cooperation. “Today we can say with certainty that there is no energy security for Hungary without Serbia, as almost 100% of our gas supply is covered by Serbia,” he said. Last year, a record was set in gas delivery, with 7.6 billion cubic meters reaching Hungary via the TurkStream pipeline, Szijjártó underscored.

The decision by the administration of previous United States President Joe Biden to impose sanctions on NIS could have serious consequences, not just for Serbia, but for all of Central Europe, the Hungarian official warned, as quoted by the Serbian ministry.

“If Serbia is unable to process oil at its refinery, there is a real danger that entire Central Europe will feel the consequences of these political decisions,” Szijjártó emphasized.

He added that Serbia and Hungary reached an agreement on close regional cooperation to ensure uninterrupted fuel supply in case of sanctions. “We continue to strengthen our energy cooperation with the goal of stable supply and protecting the interests of our citizens and companies,” he stated.

The two countries have agreed to double their electricity exchange by 2028, further ensuring the stability of the energy system in the region, Szijjártó noted.

Comments (0)

Be the first one to comment on this article.

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

Director Christian Zinglersen is leaving ACER

Director Christian Zinglersen is leaving ACER

10 July 2025 - ACER needs to appoint a new director as Christian Pilgaard Zinglersen is becoming deputy secretary general of the EIB Group

Cyprus curtails renewable electricity first half 2025 whole last year

Cyprus curtails as much renewable electricity in first half of 2025 as whole last year

09 July 2025 - Curtailments of renewable electricity in Cyprus topped 167 GWh in the first six months of 2025, equivalent to last year's entire cuts

romania energy storage anre double taxation

Romania ends double taxation of energy storage

09 July 2025 - The National Energy Regulatory Authority has approved the regulation on the elimination of double taxation of energy storage

serbia electricity demand heatwave dragan rakic ems

Serbia’s power demand soars 20%

09 July 2025 - Power demand in Serbia has increased by 15% to 20% over the past three weeks, according to Dragan Rakić, the head dispatcher of TSO EMS