The Hungarian Foreign Ministry warned about the shutdown of the industry in case of refusal of Russian gas

Hungary cannot replace Russian gas in the foreseeable future, and therefore the rejection of it would lead to a halt in industry and residential heating. This was stated on social networks by the State Secretary for Bilateral Relations at the Hungarian Foreign Ministry, Tamas Menzer.

“85% of Hungary’s annual gas consumption comes from Russian gas. This volume cannot be replaced in the foreseeable future, that is, without Russian gas, Hungary will freeze, there will be no heating in apartments, industry will stop, jobs will be lost,” he wrote.

Russian gas, according to him, means reliability of supplies and energy security. Commenting on statements by his political opponents that gas is “expensive,” Mentzer urged them to promote a peaceful resolution of the conflict in Ukraine, rather than its continuation, and to counteract “harmful sanctions.”

September 2021Gazprom” and the Hungarian company MVM CEEnergy signed two contracts that provide for the supply of a total of 4.5 billion cubic meters. gas per year for 15 years. Of these, 3.5 billion cubic meters. m of gas per year falls on the supply route through Serbia (through the Balkan Stream – a continuation of the Turkish Stream gas pipeline), 1 billion cubic meters. m – through Austria. In April, Hungary agreed extension of the agreement with Gazprom on possible supplies of Russian gas to the republic in excess of the volumes stipulated by long-term contracts.

The export of Russian gas to the EU is now carried out only along two routes – along the second branch of the Turkish Stream leading to Bulgaria, as well as in transit through the territory of Ukraine through only one gas measuring station. Pumping through the Nord Stream with a capacity of 55 billion cubic meters. m per year and through the Yamal-Europe pipeline with a capacity of 33 billion cubic meters. m is not conducted.

In July, the International Energy Agency (IEA) reported that it expects spot gas prices in Europe to rise by an average of 25% in 2024 year-on-year to more than $600 per 1,000 cubic meters. m. According to the IEA, in the second quarter of 2023, the price of gas in Europe averaged $11 per 1 million British thermal units (MBTU), or $392.9 per 1,000 cubic meters. m. This is 35% less than in the first quarter of this year, and 63% less than in the second quarter of 2022.