Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto emphasized that Hungary lacks an attractive alternative to Russian gas, stating that the TurkStream gas pipeline will ensure a continuous supply even after the expiration of the Russia-Ukraine gas transit agreement at the end of this year.
This expiration raises concerns for landlocked Central European nations, including Austria, Hungary, and Slovakia, regarding their gas supplies. However, the International Energy Agency (IEA) has indicated that the suspension of transit does not pose an immediate risk to these countries, thanks to their fully stocked gas reserves, well-connected infrastructure, and indirect access to the global LNG market.
At the International Gas Forum in St. Petersburg, Szijjarto reassured attendees that the suspension of Russian gas transit through Ukraine would not adversely affect Hungary, as gas deliveries continue through the TurkStream pipeline. He noted that this alternative route could help Hungary and other Central European nations maintain their gas supplies in the event of disruptions caused by the Ukraine transit suspension.
The TurkStream pipeline, with a capacity of 31.5 billion cubic meters, directly connects Russian gas reserves to Turkey’s transport network via the Black Sea. From Turkey, the gas flows through Bulgaria and Serbia before reaching Hungary. Last year, Hungary imported 5.6 billion cubic meters of gas through this route, which constituted approximately 65% of its annual consumption.
