Hungary asks EU for more money to wean off Russian gas
Date: 2024-09-19 Author: Nazar Litvin Categories: ECONOMY
"In our region, we have small countries, small markets, few significant players, a lack of capital, and infrastructure projects like these and projects to remove bottlenecks can cost hundreds of millions of euros - from a fuel market perspective, that's not feasible," Marosváry told the Gastech conference in Houston.
About two-thirds of Hungary's gas imports come from Russia, but the country and some of its neighbors are under increasing pressure to diversify faster and wean off Russian energy supplies after Moscow's invasion of Ukraine in 2022.
The European Commission's moves to fund green energy projects to end fossil fuel dependence have left some countries behind, Marosváry said.
"As a result of the war in Ukraine, we have been under increasing pressure to diversify faster away from Russian fuel, but they refuse to give us the funds to do so," he added.
Marosvari said Hungary has signed several short-term liquefied natural gas (LNG) deals with Azerbaijan and Turkey to help reduce its reliance on Russian sources. He also expects Turkey and Greece to become more important suppliers of pipeline gas and LNG in the future.
"You can't put all your eggs in one basket, and that includes natural gas supplies," Marosvari said.
Hungary receives 4.5 billion cubic meters of gas a year from Russia under a 15-year agreement signed in 2021.
"The Russians supply according to contracts, they are reliable for us, but that doesn't mean we have to stick to one source, so we are pursuing a strategy of diversifying supplies," Marosvari added.
Let us recall that the EU is trying to abandon Russian gas, but countries such as Hungary, Austria and Slovakia continue to receive it via a pipeline passing through Ukraine.
Read more about possible supplies after 2024 in the RBC-Ukraine article "Russia wants to maintain gas transit to the EU via Ukraine: why Putin and Gazprom need this."
About two-thirds of Hungary's gas imports come from Russia, but the country and some of its neighbors are under increasing pressure to diversify faster and wean off Russian energy supplies after Moscow's invasion of Ukraine in 2022.
The European Commission's moves to fund green energy projects to end fossil fuel dependence have left some countries behind, Marosváry said.
"As a result of the war in Ukraine, we have been under increasing pressure to diversify faster away from Russian fuel, but they refuse to give us the funds to do so," he added.
Marosvari said Hungary has signed several short-term liquefied natural gas (LNG) deals with Azerbaijan and Turkey to help reduce its reliance on Russian sources. He also expects Turkey and Greece to become more important suppliers of pipeline gas and LNG in the future.
"You can't put all your eggs in one basket, and that includes natural gas supplies," Marosvari said.
Hungary receives 4.5 billion cubic meters of gas a year from Russia under a 15-year agreement signed in 2021.
"The Russians supply according to contracts, they are reliable for us, but that doesn't mean we have to stick to one source, so we are pursuing a strategy of diversifying supplies," Marosvari added.
Let us recall that the EU is trying to abandon Russian gas, but countries such as Hungary, Austria and Slovakia continue to receive it via a pipeline passing through Ukraine.
Read more about possible supplies after 2024 in the RBC-Ukraine article "Russia wants to maintain gas transit to the EU via Ukraine: why Putin and Gazprom need this."
