Serbia to invest EUR 40 million in oil pipelines - Construction of pipelines from Pancevo to Belgrade, Novi Sad, Sombor and Nis in the pipeline

Petar Stanojevic, assistant to the Serbian energy minister, stated Wednesday that the rehabilitation and construction of oil pipelines was in the pipeline, adding that about EUR 40 million would be set aside for that purpose.

Speaking at the conference 'Siemens Oil and Gas Days', Stanojevic said that the construction of new pipelines would cut fuel transportation costs and facilitate larger exports.

Stanojevic also noted that one of Serbia's strategic goals was to form the stockpiles of oil and oil derivatives for 90-day consumption, which should be achieved in ten years.

- The plan is to invest EUR 180 million in the construction and reconstruction of reservoirs and storages for oil and oil derivatives - Stanojevic added.

Velimir Unkovic, development and investment director at the public company Transnafta, said that the construction of the total of 400 kilometers of oil pipelines with the annual capacity of 4m tonnes was in the pipeline.

Unkovic specified that the plan was to build main route pipelines from Pancevo to Novi Sad and Sombor, from Pancevo to Belgrade, and from Pancevo to Nis via Smederevo and Jagodina.