Agreement on Storage of 500 Million m3 of Gas in Hungary for Serbia’s Needs Signed

The minister of finance of Serbia, Sinisa Mali, has signed the Memorandum of Understanding on the continuation of the cooperation between Serbia and Hungary in the field of energy with the minister of foreign affairs and trade of Hungary, Peter Szijjarto, in Belgrade.

– We have signed important agreements and contracts which guarantee for the citizens of Serbia a safe and secure supply with gas ahead of the coming winter – Mali said and reminded that, on May 25, he had signed a concrete agreement on cooperation in energy regarding crude and oil with Szijjarto in Budapest.

Mali told the press at the Government of Serbia that the agreement, in addition to cooperation regarding oil, also entailed the procurement of electrical energy from a third party and the construction of a new interconnector between Hungary and Serbia, so as to be able to secure a sufficient capacity of the power line for the transfer of electrical energy.

In addition to this agreement, concrete contracts between Srbijagas and the Hungarian company MVM CEEnergy Zr on the storage and procurement of gas for Serbia’s needs were signed at the meeting.

– The agreement on the storage and purchase of 500 million cubic meters of gas was signed. We will lease two storage facilities in Hungary, and from July 1, we will start filling them in the next three months. From October 1, we will have the opportunity to withdraw gas from those storage facilities to Serbia. That way, we will fully secure the necessary gas for the functioning of our company and our citizens for the upcoming winter – Mali said.

Mali said that a Serbian gas storage facility with around 200 million cubic meters of gas was available in Banatski Dvor.

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

OTP banka Srbija a.d. Novi Sad

JP Srbijagas Novi Sad

Ministry of Foreign Affairs and Trade of Hungary

MVM CEEnergy Zr

Sinisa Mali

Peter Szijjarto

Memorandum of Understanding on continued cooperation of two states in energy

safe and secure supply of gas

construction of interconnector between Hungary and Serbia

transfer of electrical energy

gas storage

purchase of gas

Banatski Dvor