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Hungary and Serbia signed an intergovernmental agreement to cooperate on the construction and operation of a gas interconnector.

After signing the pact in Budapest with Serbian energy minister Aleksandar Aleksandar Antić, Hungarian Foreign Minister Péter Szijjártó said the security of gas supplies was a strategic and national security matter. Bids for the reservation of capacities in the pipeline will be invited in September, he said, adding that its maximum capacity will be 10 billion cubic metres. The size of Hungary’s investment will depend on the capacity reservations made by the various gas companies, he said. The bidding process will last until the end of September, followed by the signing of gas trade contracts. Construction is scheduled to start next summer and the project is estimated to be completed by the end of 2021, the minister added. Szijjártó noted that Russia and Ukraine have yet to sign a new gas transit deal for 2020.
Meanwhile, he said, Hungary’s allies were also taking too long to make the decisions that would allow the country to import gas from new sources. He said Hungary’s most realistic option of a new gas supply route was the Turkish gas transport corridor passing through Bulgaria and Serbia.