Hungary’s gas reserves above EU expectations
Under EU regulations, gas reserves must be filled up to 90 % of full capacity by November 1. Hungary is already at 78%.
Under EU regulations, gas reserves must be filled up to 90 % of full capacity by November 1. Hungary is already at 78%.
Gas storage levels are high across Europe, including in Hungary, thanks to a mild winter.
On Sept. 19, gas storage facilities were 70.11% full and the total volume of gas stored reached 4.44 billion cubic meters.
Minister Szijjártó said some 3.5 billion cubic meters of gas arrive in Hungary via Turkey, Bulgaria and Serbia every year, which was a “significant” portion of the country’s annual consumption.
“For the time being, the operation of the transit route seems to be undisturbed but we will closely monitor the situation and keep in touch with our Bulgarian, Serbian and Russian counterparts,” the foreign minister said.
Hungary concluded a deal with Russia’s Gazprom that ensures gas supplies to the country from the west and the south.
The foreign minister said Hungary’s gas supplies must be secured by its government and “it is nobody else’s business how we do that”.
The foreign minister said Hungary was buying 2 billion cubic meters of gas to fill storage facilities this summer and transports had already started.
The Foreign Minister has highlighted that Hungary will be able to purchase Liquefied Natural Gas from Qatar, following the completion of Croatia’s LNG terminal in January 2021.
The Foreign Minister said the two countries had identified several joint projects that Russian and Hungarian companies would be able to carry out together in third markets.
Péter Szijjártó, minister of Foreign Affairs and Trade, held talks with Nikolay Fyodorov, the first deputy chairman of the Federal Council, the upper house of Russian parliament, in Budapest.
The Foreign Minister has said that Hungary’s gas supplies are already secured for 2020 even if a new Russian-Ukrainian agreement falls through.