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Tuesday, October 26, 2021

Hungary has reached an agreement with Russia on gas supplies bypassing Ukraine

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Hungary has concluded a long-term gas supply contract with Russia in Budapest. Hungarian Foreign Minister Peter Szijjarto published a video of the ceremony where the signatures were placed on social media.

The minister said the agreement is for 10 plus 5 years. This means that after 10 years it will be possible to reduce the purchased gas volume, which amounts to 4.5 billion cubic meters. annually.

Gazprom is to deliver this amount of gas to Hungary via two routes: 3.5 billion cubic meters. from the south, via Serbia, and the remaining 1 billion via Austria.


Hungary has reached an agreement with Russia on gas supplies

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Szijjarto noted that it was possible to purchase gas at a very good price, more favorable than before. However, he did not provide a specific amount.

– The agreement signed today is of great importance, because thanks to it we can guarantee the security of gas supplies to our homeland for 15 years in a world full of challenges and uncertainty – announced the Hungarian minister.

He emphasized that natural gas played and plays an important role in energy supply to Hungary, which is not only a Hungarian phenomenon, but also a pan-European one. He recalled that a total of 400 billion cubic meters were used in the EU last year. gas, and 48 percent. the raw material was supplied by Gazprom. “Political opinions matter a lot, but the numbers speak for themselves,” he said.

– Here in Hungary, energy supply is a question of security, sovereignty and the economy, not a political question. Flats and houses cannot be warmed by political opinions, but by gas. The same applies to the functioning of the industry. (…) The reality is that today it is safest to secure gas supplies to Hungary through a long-term agreement with Gazprom – he assessed.

He indicated that there is no other player in the gas supply market in the region that would have such sources of gas and such infrastructure. – We have prepared the gas infrastructure in such a way that we could buy gas from every direction. (…) We did our homework, unfortunately it cannot be said for everyone – he added.

Russian gas supplies to Hungary – Ukraine’s reaction

“We are surprised and disappointed by Hungary’s decision to sign a new long-term contract in Budapest on September 27, 2021 with the Russian company Gazprom for gas supplies bypassing Ukraine,” the Ukrainian Foreign Ministry wrote in a statement.

The ministry stressed that Ukraine considers it “a purely political, economically unjustified decision made to please the Kremlin and to the detriment of Ukraine’s national interests and Ukrainian-Hungarian relations.” According to Kiev, for Hungary “it is still more beneficial to obtain gas via transit through the branched gas transmission system of Ukraine”.

The ministry announced the postponement of the meeting of the Ukrainian-Hungarian intergovernmental commission for economic cooperation, which was to be held on September 29-30 in Budapest under the leadership of the foreign ministry heads of both countries. He stressed that “the Hungarian-Russian gas agreement will have a significant impact on the energy security of Ukraine and Europe, creating new circumstances that require a comprehensive risk and threat analysis as well as concerted actions by the countries of the region to minimize its negative effects.”

Ukraine will ask the European Commission to assess the compliance of the new Hungarian-Russian gas agreement with European energy law, it was announced.

Main photo source: Shutterstock

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