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Hungary says Russia to deliver more extra gas

Hungary said Wednesday that Russian energy giant Gazprom will further increase natural gas deliveries to the EU member in September and October. The announcement by Hungarian Foreign Minister Peter Szijjarto comes as Moscow has reduced or halted deliveries to most European nations which have slapped sanctions on Russia over its invasion of Ukraine, sending both…

Gas storage tanks stand at the Novokuibyshevsk oil plant, operated by Rosneft PJSC, in Novokuibyshevsk, Samara region, Russia, on Thursday, Dec. 22, 2016. Oil trimmed a second weekly gain as investors weighed rising U.S. inventories against coming coordinated output cuts by OPEC and other producing nations. Photographer: Andrey Rudakov/Bloomberg

Hungary said Wednesday that Russian energy giant Gazprom will further increase natural gas deliveries to the EU member in September and October.

The announcement by Hungarian Foreign Minister Peter Szijjarto comes as Moscow has reduced or halted deliveries to most European nations which have slapped sanctions on Russia over its invasion of Ukraine, sending both gas and energy prices soaring.

Following a July visit to Moscow by Szijjarto, Gazprom supplied Hungary with an additional volume of 2.6 million cubic metres per day in August “above the already contracted quantities”.

Now “an agreement has been reached” with Gazprom for additional supplies in September and October, said Szijjarto in Prague after a meeting of EU counterparts.

The additional volume “is now increased to 5.8 million cubic metres (per day) from September 1st,” he said in a video posted on his Facebook page.

Like in August, the gas will arrive via the TurkStream pipeline which passes through Turkey, Bulgaria, and Serbia.

The increase further bolsters Hungary’s energy supply security and means that Hungary will not have to introduce supply restrictions due to lack of gas, he added.

“Hungary’s energy supply is safe,” said government spokesperson Zoltan Kovacs in a Twitter message after Wednesday’s announcement.

The agreement follows the start Wednesday by Gazprom of a three-day suspension of gas deliveries to Germany via a major pipeline in the latest in a series of halts or reductions of supplies to European countries.

Prices have soared and EU nations are adopting measures to reduce gas consumption amid concerns of shortages this coming winter that could force rationing supplies to industrial customers.

Since Russia’s invasion of Ukraine Budapest has sought to hold a broadly neutral stance amid accusations by some EU allies of a pro-Russian tilt.

Hungary, which largely depends on Russian oil and gas, has dismissed the idea of any EU sanctions on Russian gas.

It also secured an exemption from EU sanctions on Russian crude oil imports via pipelines after Prime Minister Viktor Orban said it would be like a “nuclear bomb dropped on the economy”.

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