Serbia will increase supplies of Russian Gas to Hungary if Ukraine stops Transit to Europe

The Hungarian-Serbian joint venture for gas trading on the European market will start operating in September. Hungarian Minister of Foreign Affairs Péter Szijjártó announced this in a video message on his Facebook page after a meeting between Prime Minister Viktor Orbán and Serbian President Aleksandar Vucic, who was visiting Budapest, TASS reported.

The agreement to create a joint regional gas trading company was signed by the heads of the Hungarian company MVM and the Serbian "Serbiagaz" in June this year.

Szijjártó noted that the two countries cooperate successfully in the field of energy, ensuring mutual energy security. He pointed out that most of the Russian gas comes to Hungary in transit through Serbia on the branch of the Turkish Stream gas pipeline, and Hungary stores on its territory more than 100 million cubic meters of gas for Serbia.

The Hungarian minister also announced that Vučić assured Prime Minister Viktor Orbán that Serbia is ready to ensure an increase in the supply of Russian gas to Hungary via the Turkish Stream gas pipeline through its territory, in the event that Ukraine stops the transit of Russian fuel to Europe.

"The majority of Russian gas enters Hungary through Serbia, and in recent days we have heard that Ukraine intends to terminate its agreement with Russia on the transit of gas to (Europe). Today (yesterday) the Serbian president made it clear that if Hungary wants to increase the transit of natural gas through Serbia, Serbia can provide the necessary transport capacities," said Szijjártó in a video message on his Facebook page.