Hungary signed annex to its gas supply agreement with Gazprom
Balkan Energy
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Hungary and the Russian gas company Gazprom have agreed on a potential increase in the supply of Russian gas to Hungary during talks held in St. Petersburg. Hungarian Minister of Foreign Affairs and Trade said that it is the Hungarian Government's responsibility to ensure the country's long-term energy supply security, while also securing it at a competitive price.
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He highlighted that in 2024, Hungary will receive a total of 6.7 billion cubic meters of Russian gas. Last year, 5.6 billion cubic meters of gas were delivered via the TurkStream pipeline, meeting 65 % of Hungary's energy needs and fully utilizing the pipeline's capacity.
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Hungarian state energy company MVM and Gazprom signed an agreement to continue energy cooperation, which he described as favorable for Hungary. Meanwhile, Russian Gazprom reported that on the same day, a Memorandum of Understanding was signed to explore the possibility of increasing Russian gas supplies to Hungary.
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