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Hungary May Receive Russian gas Beyond Long-Term Deal

NATURAL GAS

Hungarian minister said the country may receive Russian gas beyond the long-term deal according to Bloomberg. The minster added the countries have updated a nuclear plant financing deal.

  • Hungary is still reliant on Russian gas supplies and has an existing 15 year deal gas supply deal with Gazprom for 3.5bcm per year via Bulgaria and Serbia and 1bcm via Austria.
  • Sanctions on Russian gas and nuclear power would be disastrous for Hungary according to its Prime Minister Viktor Orban last year.
  • Russian gas via TurkStream mainly flows to Serbia and Hungary.

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