Hungary and Serbia are set to begin construction soon on a new oil pipeline aimed at bolstering energy security in the region, Hungarian Foreign Minister Péter Szijjártó announced Monday. 

The pipeline, expected to be operational by 2027, will ensure reliable fuel supplies for Serbia and neighboring countries.

The announcement followed "strategic consultations" in Belgrade between Hungarian Prime Minister Viktor Orbán and Serbian President Aleksandar Vučić.

Szijjártó said that the Hungarian section of the pipeline will span approximately 109 to 118 miles (175-190 kilometers). He emphasized the project's importance for regional energy stability, particularly as Central European nations seek diverse energy routes.

The Hungarian foreign minister also highlighted Serbia's growing role as a transit country for gas supplies to Central Europe.  

He also noted that many countries in the region now receive Russian gas via Serbia after Ukraine ceased direct transmission of Russian gas to Europe. 

Currently imports about 7.4 billion cubic meters of gas annually through this route, making it one of the European countries still relying on Russia’s gas.

In a related move to enhance energy cooperation, Szijjártó also stated that Hungary and Serbia plan to double the capacity of their power grid interconnections by 2028.