Hungary and Serbia have signed an energy agreement that is more significant and broader than ever before, which provides security in terms of the energy supply of both countries, Minister of Foreign Affairs and Trade Péter Szijjártó announced on Friday in Belgrade.
At the joint press conference held with the Serbian Minister of Finance Sinisa Mali, the Minister of Foreign Affairs and Trade emphasized that there is incredible uncertainty all over the world, the world economy is changing, war and sanctions are shaking basic truths.
According to the head of the ministry, no one thought a few years ago that the main issue during negotiations on energy procurement would not be the price, but whether it would be possible to buy enough energy carriers at all. He added: no one would have thought that the security of energy supply would become such a critical and vitally important issue.
With the two signed contracts, Serbia made an alliance to guarantee safe and predictable energy supply for our countries under all circumstances. According to one of the contracts, it was agreed that Serbia will acquire and store 500 million cubic meters of natural gas through Hungary in the coming winter season.
Péter Szijjártó reminded that the cooperation in the field of natural gas between Serbia and Hungary has been excellent so far, since a significant part of the natural gas transport to Hungary comes from the south, via Serbia, this year, for example, more than 1.7 billion cubic meters.
The new agreement now ensures Serbia's complete supply of natural gas in the next winter season, and at the same time strengthens Hungary's role in the security of regional energy supply, underlined Péter Szijjártó. According to the contract, the natural gas purchased by Serbia will be stored in reservoirs in Hungary from July 1st, and will be delivered to Serbia in doses of 3-6 million cubic meters per day from October 1st.
The other signed contract includes the connection of the electricity markets of the two countries. "With this, Hungary joins the Serbian-Slovenian initiative, which will lead to the creation of a joint regional energy exchange," explained Péter Szijjártó. This increases the size of the market, which usually means a reduction in prices, and this is incredibly important for all of us in the current extremely uncertain situation. In addition, electricity transmission between the two countries will be faster and easier. The contract also states that the capacity of the electricity line connecting the national systems will be increased, the head of the ministry said.
According to his explanation, there was currently a maximum annual transmission capacity of one thousand megawatts between the two countries, this will be increased by 500 megawatts, and the new line between Sándorfalva and Szabadka will be built by the spring of 2028. "Thus, we can also use our electric power capacities, which are increasing as a result of the Paks nuclear power plant being built, and the ongoing investments in Serbia, for the benefit of each other." Péter Szijjártó also announced that joint developments will be carried out in the field of the use of renewable energy sources, and according to the contract, Hungarian technologies will be used to a large extent during the power plant developments in Serbia.
On Friday, Péter Szijjártó also discussed the most important issues affecting the two countries, primarily energy security and the strategic partnership of the two countries, with Serbian President Aleksandar Vucic. It has been said that the unhindered and undisturbed flow of energy carriers between Hungary and Serbia is another proof of the exceptionally good and friendly relations between the two countries.
Source: MTI
Photo: Facebook/Péter Szijjártó
