novi sad

Serbia Guarantees €124 Million Financing for Hungary Crude Oil Pipeline

Serbia has provided a sovereign guarantee for about €124 million in borrowing to finance construction of its section of a planned crude-oil pipeline linking the country with Hungary. The financing will be taken by pipeline operator Transnafta from state-owned Banka Poštanska Štedionica and will support construction of the Serbian section of the Hungary-Serbia crude-oil connection. The Serbian section is planned to extend for approximately 113 km, linking the Hungarian pipeline system with oil infrastructure serving Novi Sad and Pančevo. Planned…