Crisis situation in Hungary's neighbour: Mol prepares for critical step
This morning, we reported that Péter Szijjártó, the Hungarian Minister of Foreign Affairs and Trade, had made an unscheduled trip to Serbia. There, he discussed the situation of the NIS oil company, crippled by US sanctions, and the security of supply crisis at the Pančevo refinery, with his Serbian colleagues. We indicated earlier that he would meet Energy Minister Dubravka Đedović later in the day to discuss the matter further.
At a press conference after the talks, Szijjártó said that
there is no energy security for Hungary without Serbia, as this is where our natural gas supply comes from. Hungary would use all available means to ensure that Serbia's crude oil supply could continue to be secured in the future. But how will this be achieved?
- Mol is ready to further increase its supply of crude oil and petroleum products to Serbia. The foreign minister emphasised that the Hungarian oil company doubled its exports in November and will increase them 2.5-fold in December.
- Speaking about the recent fire at Mol's Százhalombatta refinery, Szijjártó confirmed that it would not affect the current announcement.
- The shipments will arrive by road, rail and river. The first rail shipment has already arrived, the second is being prepared, and Danube shipments are ongoing. Against this backdrop, a proposal was put forward to the Serbian Minister of Energy to enable Mol to exercise greater flexibility in its transportation operations.
Currently, there is no functioning oil pipeline between Hungary and Serbia. Consequently, any oil supply cooperation between the two countries would have to be achieved through alternative logistical means, such as the export of crude oil and refined products by road or rail. However, plans are in place to build a new connecting pipeline between Százhalombatta and Novi Sad, which is expected to be completed by 2027.
In this regard, Szijjártó emphasised that
we are ready to make decisions within days that will significantly speed up construction of the Serbian-Hungarian oil pipeline.
Cover photo: Péter Szijjártó's Facebook page
