Hungary and Russian gas company Gazprom have reached an agreement regarding a potential increase in Russian gas supplies to Hungary during discussions in St. Petersburg. Hungary’s Minister of Foreign Affairs and Trade emphasized the government’s responsibility to ensure long-term energy supply security while maintaining competitive pricing.
For 2024, Hungary is set to receive 6.7 billion cubic meters of Russian gas. In the previous year, 5.6 billion cubic meters were delivered through the TurkStream pipeline, which fulfilled 65% of Hungary’s energy needs and fully utilized the pipeline’s capacity.
Additionally, Hungarian state energy company MVM and Gazprom signed an agreement to continue their energy cooperation, which the Minister deemed advantageous for Hungary. On the same day, Gazprom announced that a Memorandum of Understanding had been signed to explore the possibility of increasing gas supplies to Hungary.
