Djedovic Handanovic: Construction of Serbia-Hungary oil pipeline could start by end-year

BELGRADE - Serbia's caretaker Minister of Mining and Energy Dubravka Djedovic Handanovic said on Wednesday a part of the technical documentation for a Serbia-Hungary oil pipeline had been completed and that, as a result, construction works could begin by the end of the year.

"Some technical preparations have already been completed on our part," Djedovic Handanovic told reporters after a meeting with Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto in the Serbian government building.

"Our joint efforts on that project are proof that we want to continue, expand and solidify our cooperation on oil supplies through this supply route," she said, noting that both sides were determined to build the pipeline, whose Serbian stretch will be 113 km long.

She thanked Hungary for its continued support regarding Serbia's Russian majority-owned oil company NIS.

"In difficult times, you see who your friends and partners are," Djedovic Handanovic said.

"We are grateful for the support when it comes to potential sanctions, because we have really been on the phone with each other for the past three months. Sometimes every day, but certainly several times a week, to coordinate things and exchange information and reach what are currently the most optimal solutions, which, at this time, is a postponement of sanctions," she said.

She also thanked Szijjarto for highlighting Serbia's position and stances during his discussions in Washington, "in the sense that we have not done anything that would cause sanctions to be introduced against a Serbian oil company, which would result in regional instability and unpredictability of oil and oil derivatives prices."