Hungary opposes gas price ceiling, but expects it to be adopted by the EU

Judging by how often European energy ministers hold meetings on the issue of limiting Russian gas prices, the EU will approve this measure, said Hungarian Foreign Minister Péter Szijjártó. He stressed that Budapest opposes the price ceiling, as the country’s government’s priority is the security of gas supplies.

“Energy Council in Brussels: we say no to a price cap, because the security of supply comes first… The proposal to introduce a gas price ceiling is bad, harmful and dangerous, but despite this, it seems that its adoption can take place,” Mr. Szijjártó wrote on Facebook (Meta, recognized as extremist in the Russian Federation and banned).

Earlier, France’s Energy Transition Minister Agnès Pannier-Runachet said that today, December 19, EU energy ministers will discuss a price ceiling of €188 per 1 MWh. Such a limitation was proposed by the Czech presidency of the Council of the European Union. According to Agnès Pannier-Runachet, today’s ministerial meeting is the last one in 2022. At the meeting, it is necessary to approve the agreements that were previously “agreed by 90%.”

In early December, Hungarian Prime Minister Viktor Orban saidthat Budapest will seek exemption from the introduction of a limit on Russian gas.

According to the plan of the European Commission, the restriction comes into force if the price of gas on the Amsterdam Stock Exchange exceeds €275 per 1 MWh (approximately $3,000 per 1,000 cubic meters) for at least two weeks. The difference with the LNG price must exceed €58 for at least ten days. Earlier, the countries of the European Union, the G7, as well as Australia introduced a price ceiling for Russian oil. The limits were set at $60 per barrel. The Kremlin and the government promised to respond to this measure.

On the position of Hungary on anti-Russian sanctions – in the publication “Kommersant” “Budapest Storms from Sanctions”.

Polina Sobakina