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Hungary to Seek Oil & Gas Exemptions

ENERGY

Hungary will seek exemptions from planned gas and oil price measures to avoid potential supply issues according to Foreign Minister Peter Szijjarto yesterday.

  • Szijjarto will participate in EU energy ministers meeting on Thursday but will seek an exemption from the oil price cap and exemption for long term gas contracts.
  • “These proposals are dangerous, they may cause further issues in the European energy market” said Szijjarto.
  • He said Hungary must expect and is prepared for temporary halts in crude supplies from Russia as infrastructure has been affected by the war in Ukraine. Flows through the southern Druzhba pipeline halted for several hours yesterday amid Russian strikes on infrastructure.
Energy BulletsCommodities
Energy BulletsCommodities

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