June 20 (SeeNews) - Serbia’s government said on Tuesday it signed agreements with Hungary for the construction of a cross-border oil pipeline and the establishment of a joint gas trading company.
The joint gas trading company, SERBHUNGAS limited liability company, based in Novi Sad, will be set up by Serbian gas monopoly Srbijagas and Hungarian state owned utility MVM CEEnergy, the government said in the statement.
It did not provide details about the planned pipeline.
In February, Serbia's energy ministry said it plans to invest 100 million euro ($109.1 million) in the construction of a 128-km oil pipeline from the northern city of Novi Sad to Adje, in Hungary, in a bid to diversify its energy sources.
($ = 0.9165 euro)