Szijjarto said the feasibility study for the pipeline has already been completed. According to it, some 180km of pipelines need to be built in Hungary and 120km in Serbia, with a capacity of approximately 5m tonnes per year.

"In Hungary this practically means construction along the Szazhalombatta-Algyo-Roszke line, with the construction of an international measuring station also necessary," he said.

"On the Hungarian side, this is an investment of around EUR 320m, which will take three years, and we are currently negotiating the contract that will guarantee the utilization of this new oil pipeline," he added.

The minister also noted that preparations are progressing for an investment that will double the electricity transmission capacity between the two countries by 2028.

Szijjarto said that energy crises are quite common nowadays and often caused by "political hysteria". In such situations, there is a great need for close cooperation and continuous consultation between countries with limited resources.

"It is no longer an exaggeration to say that there is no Hungarian energy security without Serbia, and there is no Serbian energy security without Hungary," he added.

"Almost 100pc of Hungary's natural gas supply comes through Serbia. Last year, we set a brutal record with 7.6bn cubic meters of natural gas arriving in Hungary through Serbia via the Turkish Stream pipeline," Szijjarto said, adding that Serbia has proven once again that it is a reliable transit country which is sadly not true of all our neighbours.

Szijjarto called the sanctions on the Russian company that supplies oil and fuel to Serbia a common problem for the region, as this could cause challenges in other countries as well.

"It could easily cause a price increase if Serbian refining capacities are cut off from regional supplies. Then there is a real risk that the people of Central Europe would pay the price of the Biden administration's revenge," he said, but expressed hope that with a new administration in the US he is hoping that we will be able to resolve this situation in the short term.

Meanwhile, Szijjarto: Hungary, Serbia both attach strategic importance to bilateral relations

Both the Hungarian and Serbian governments attach strategic importance to continually developing bilateral relations, the foreign minister said in Belgrade on Thursday, adding this was sorely needed given the emergence of a new world order.

At a joint press conference held with Serbian counterpart Marko Duric, Szijjarto said a new world order and new realities were developing in the wake of the inauguration of the new US president, according to a ministry statement.

He added that this was "good news" because Donald Trump pursued patriotic policies, confronted "woke ideology" and had put an end to the previous "shameless interference" in the domestic affairs of foreign countries.

"At the same time, we can of course still see continual attacks against patriotic and sovereigntist governments... But what's changed is that instead of both Brussels and Washington, these attacks solely come from Brussels. This is not pleasant but much easier to ward off," he said.

"Of course we're monitoring events in Serbia and can see the attempts at destabilisation under way. We Hungarians have a vested interest in stability and peace in Serbia," he said.

Szijjarto welcomed efforts by the Serbian president and government that he said were unavoidable for developing bilateral relations.

He praised the results of cooperation between the two countries, citing the modernisation of rail links between the two capitals and mutual contributions to each other's energy security.

He also said that Europe's most modern and largest border crossing will be built at Roszke, enabling the fastest possible journeys between the two countries. He added that a decision has been made to extend the opening hours of already operating border crossings.

Szijjarto: Vojvodina Hungarians important resource in Hungary-Serbia relations

Vojvodina Hungarians are an important resource and a link between Hungary and Serbia as part of relations that are now at a historical peak, the foreign minister said.

After meeting Balint Pasztor, leader of the Alliance of Vojvodina Hungarians (VMSZ), Peter Szijjarto said VMSZ played an extremely important role in bilateral relations being at a historical high.

"VMSZ and Vojvodina Hungarians are perhaps the most important resource in the system of relations we have managed to build between Hungary and Serbia in the recent period," the ministry quoted him as saying.

"We in Hungary are very proud of the stabilising and rationalising role that VMSZ adds to Serbian domestic politics, and we are proud of the fact that even members of the Serbian majority acknowledge the performance of VMSZ politicians and leaders, not only in the current domestic political situations, but generally in the Serbian government's work," he said.

He confirmed that the Hungarian government continued to support VMSZ's initiatives because they strengthened Hungarian-Serbian cooperation and Hungarian communities in Vojvodina.

He also said that an economic development programme carried out on VMSZ's proposal was exemplary, involving the Hungarian government providing support to over 16,000 applications, resulting in 185 billion forints (EUR 460m) worth of investments in Vojvodina.

"We certainly welcome the Vojvodina Hungarians' concept for economic developments in Vojvodina in the next seven years, and we will be certainly happy to support them commensurate with our available resources," he said.

Source: 
MTI - The Hungarian News Agency, founded in 1881.

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