Hungary and Serbia sign energy agreements
Agreements have been signed allowing Serbia to store 500 million cubic meters of gas in Hungary for the winter and paving the way for the connection of the electricity markets of the two countries, said the Minister of Foreign Affairs and Commerce Peter Szijjarto after a meeting with the Serbian Finance Minister. Sinisa Mali in Belgrade on Friday, according to a report by state newswire MTI.
Hungary will start storing gas for Serbia on July 1 and will start releasing 3 to 6 million cubic meters per day to Serbia from October 1, Szijjarto said.
By connecting the electricity markets of the two countries, Hungary is joining an initiative by Serbia and Slovenia to establish a common regional energy exchange, he added.
The deal also includes provisions to increase the annual interconnection capacity between the Hungarian and Serbian power grids by 500 MW from the current 1,000 MW, he said. A new power line between Sándorfalva, Hungary, and the Serbian town of Subotica will be completed by spring 2028, he added.
The parties also agreed to implement joint developments in the field of renewable energy and to use Hungarian technology for power plant projects in Serbia, he said.
Szijjártó also met with Serbian President Aleksandar Vucic on Friday. Their talks focused on energy security and the strategic partnership between the two countries.
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