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NATGAS: Hungary and Gazprom to Sign Gas Deal to Fully Utilize TurkStream

NATGAS
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Hungary and Russia’s Gazprom will on Thursday sign a contract enabling them to fully utilize the TurkStream gas pipeline, according to Hungarian Foreign Minister Peter Szijjarto cited by Reuters.

  • The TurkStream pipeline to Turkey runs along the bed of the Black Sea.
  • Szijjarto added that Hungary is happy about energy cooperation with Gazprom which currently has the best offers and a change in gas supplier would hurt Hungary, according to Bloomberg.
  • Hungary has signed some short-term LNG deals with Azerbaijan and Turkey, but the country currently relies on Russia for two-thirds of its gas imports. Russia's gas transit deal with Ukraine is due to expire at the end of the year.
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Hungary and Russia’s Gazprom will on Thursday sign a contract enabling them to fully utilize the TurkStream gas pipeline, according to Hungarian Foreign Minister Peter Szijjarto cited by Reuters.

  • The TurkStream pipeline to Turkey runs along the bed of the Black Sea.
  • Szijjarto added that Hungary is happy about energy cooperation with Gazprom which currently has the best offers and a change in gas supplier would hurt Hungary, according to Bloomberg.
  • Hungary has signed some short-term LNG deals with Azerbaijan and Turkey, but the country currently relies on Russia for two-thirds of its gas imports. Russia's gas transit deal with Ukraine is due to expire at the end of the year.