Hungary and Serbia will build a new pipeline to transport oil refining products from Russia.
The governments of Hungary and Serbia, which continue energy cooperation with Russia, have agreed to construct a new pipeline between the countries. This was reported by the media, citing a statement from Hungary's Foreign Minister Peter Szijjarto.
The pipeline will transport intermediate oil refining products necessary for the production of gasoline and diesel fuel. The official clarified that this is a separate project from the construction of a pipeline for the supply of crude oil. The Serbian side was represented in the negotiations by Energy Minister Dubravka Jedovic-Handanovic.
This initiative is being discussed against the backdrop of the impending full enforcement of U.S. sanctions against the company "NIS" (Neftna Industrija Srbije). Washington demands the exit of Russian shareholders ("Gazprom" and "Gazprom Neft"), who hold a controlling stake in the company. As of now, the license for operational activities has been extended until March 20, and negotiations for the exit of Russian shareholders have been extended until March 24.
The main contender for purchasing the asset is the Hungarian company MOL. It has signed a corresponding preliminary agreement with "Gazprom Neft."
Last week, the head of the Serbian company "Srbijagas," Dusan Bajatovic, stated that a contract for gas supplies to the Balkan republic will be signed with Russia within the next month for a duration of six months.
