A joint USD 80-million investment involving the Hungarian MOL Group and the Slovakian Transpetrol has seen updating of a 128-kilometre section of the Friendship I oil pipeline. The reconstruction – which was completed in less than a year – will result in the annual flow capacity for this section of pipeline increasing from 3.5 million tonnes to 6 million tonnes. Furthermore, the development means that the oil needs of Slovakia and parts of the Czech Republic can now be met with supplies from the Adriatic via Hungary.

In his speech, the Hungarian prime minister reminded his audience that “cheap energy” is important, too. He said he believes that Europe is still at the starting line in the race for cheap energy, and in order to change that and to retain competitiveness, decisions will have to be made at an EU level.

Mr. Orbán stressed that it is of great importance for the countries of the region to jointly seek solutions that secure their energy supply, even under unexpectedly difficult circumstances. In this regard, he called the reconstruction of the Friendship I oil pipeline an extremely important step, adding that it is in everyone’s interest to also realize renewal of the pipeline’s Croatian section.

In his speech, the Slovakian prime minister also called the refurbishment of the pipeline a significant strategic investment and saluted Mr. Orbán’s efforts in supporting closer economic cooperation between the two countries. For his part, Mr. Orbán said that in his opinion Hungary is committed to reinforcing Hungarian-Slovakian cooperation, which is already at an exceptionally high level.

The representatives of the Hungarian MOL Group and the Slovakian Transpetrol – which jointly carried out the pipeline’s reconstruction – also participated in the inauguration ceremony.

Referring to the reconstruction, CEO of MOL Hungary Sándor Fasimon said that “We have succeeded in getting the two important refineries of the region to stand on two feet […] from now on we will always have oil in Hungary and Slovakia, rain or shine.” He also pointed out that this year, parallel to the now inaugurated section, significant developments have also been completed on the Hungarian section of the Adria oil pipeline.

The CEO of Transpetrol Ivan Krivosudský said that the project enabled reconstruction of a nine-kilometre-long section on the Slovakian side of the border, making it possible to supply the oil refinery of Slovnaft (the Slovakian subsidiary of the MOL Group) in Bratislava completely through this line if necessary.

Source: Prime Minister's Office