The TurkStream pipeline delivered a record 7.6 billion cubic meters of natural gas to Hungary in 2023, which is an absolute record. This volume ensured uninterrupted energy supplies to Hungarian households and businesses, while allowing the country to maintain some of the lowest natural gas prices in Europe.
The foreign minister underscored that despite external pressures, Hungary has not abandoned the development of TurkStream, which remained operational even amid the ongoing Russia-Ukraine war.
Another critical aspect of Hungarian-Serbian cooperation involves doubling the capacity of their interconnected electricity networks, a goal projected for completion by 2027–2028. Additionally, a feasibility study has been finalized for a new oil pipeline connecting the two countries’ systems.
FM Szijjarto announced that the next phase of discussions for the project would take place in February in Budapest, with Serbia’s energy minister in attendance.
Mr. Szijjarto also touched on the attacks on TurkStream, including recent drone attacks as well as the ongoing political pressure. The Bulgarian opposition, for instance, has proposed to increase the transit fees, potentially jeopardizing the security of gas transportation. Nevertheless, Mr. Szijjarto expressed optimism that the Bulgarian government would maintain its role as a reliable transit partner.
The leaders of Hungary and Serbia reaffirmed their commitment to pro-peace policies, stressing the urgent need for a resolution to the conflict in Ukraine to stabilize the region. FM Szijjarto expressed optimism for the coming week, which he believes may bring positive developments.
Cover photo: Hungarian Prime Minister Viktor Orban and Serbian President Aleksandar Vucic meet in Belgrade on January 18, 2025 (Photo: MTI/Prime Minister's Press Office/Zoltan Fischer)
