Edition: International | Greek
MENU

Home » World

Hungary to buy more gas from Russian in new deal

Under a new deal between Moscow and Budapest, Russia’s Gazprom will deliver up to 5.8 million cubic metres (mcm) more natural gas per day via Serbia on top of the volumes agreed in the long-term contract

By: EBR - Posted: Thursday, September 1, 2022

Under a long-term, 15-year gas contract with Hungary, Russia is committed to supplying 4.5 billion cubic metres yearly to Budapest.
Under a long-term, 15-year gas contract with Hungary, Russia is committed to supplying 4.5 billion cubic metres yearly to Budapest.

Under a new deal between Moscow and Budapest, Russia’s Gazprom will deliver up to 5.8 million cubic metres (mcm) more natural gas per day via Serbia on top of the volumes agreed in the long-term contract, Hungarian Foreign Affairs Minister Peter Szijjarto said.

According to the Foreign Minister’s announcement on social media, Russia supplied at most 2.6 million additional cubic metres per day in August. This will now be increased to 5.8 million cubic metres per day starting on 1 September, Telex reported.

Szijjarto said that the supply volume would depend on “technical and technological issues” and that the extra gas would help to avoid “the need to introduce restrictions in the country due to gas shortages”.

Szijjarto went to Moscow in July precisely to seek additional gas supplies, raising eyebrows throughout European capitals.

During the press conference following the talks, Russia’s Foreign Minister Sergey Lavrov also mentioned the war, alleging Ukrainians were shooting themselves so that the Russians could be blamed for their deaths.

Under a long-term, 15-year gas contract with Hungary, Russia is committed to supplying 4.5 billion cubic metres yearly to Budapest.

However, since the outbreak of the war, only 50% of the previously agreed 1 billion cubic meters have been supplied through the pipeline from Austria. It is this shortage that the Hungarian government wants to make up for with this new amount which is to be delivered via Serbia.

*first published in: www.euractiv.com

READ ALSO

EU Actually

After a painful NATO exercise: are all those billions for defense being spent wisely?

N. Peter KramerBy: N. Peter Kramer

NATO reported on its website about a large-scale exercise organised by a multinational battlegroup in Estonia. The soldiers had to train in temperatures of 20 degrees below zero. The military alliance is investing significant resources in defending its eastern flank.

Europe

Macron Makes France a Great Middle Power

Macron Makes France a Great Middle Power

France has stopped clinging to notions of being a great power and is embracing the middle power moment. But Emmanuel Macron has his work cut out if he is to secure his country’s global standing before his term in office ends.

Business

The EU’s zig-zag road towards stronger financial markets

The EU’s zig-zag road towards stronger financial markets

Giles Merritt delves into the confusing welter of efforts to streamline Europe’s national financial players into a more dynamic single capital market

MARKET INDICES

Powered by Investing.com
All contents © Copyright EMG Strategic Consulting Ltd. 1997-2026. All Rights Reserved   |   Home Page  |   Disclaimer  |   Website by Theratron