The country's gas supply is currently heavily dependent on the TurkStream pipeline.Continue reading
Hungarian Foreign Minister Péter Szijjártó received Romanian Energy Minister Sebastian Ioan Burduja in Budapest on Monday, with whom a “historic agreement” on safeguarding the security of natural gas supply was signed, the Hungarian politician announced.
After his meeting with Sebastian Ioan Burduja, the Foreign Minister said that the “historic” solidarity agreement will make energy cooperation between Hungary and Romania closer than ever “in the current uncertain period of crises, when the importance of security of supply has clearly increased.”
The agreement “provides mutual protection under fair conditions for both Hungarian and Romanian consumers, and sets out the means of providing emergency assistance.
In addition, the cooperation is particularly significant given that in a few years Romania will be the only net exporter of natural gas in the region and the largest producer in the European Union,” he said. “The fact that there has already been a very active, dynamic, and fruitful energy cooperation between the two countries is also a good basis for cooperation,” Mr. Szijjártó added.
At the joint press conference, Mr. Szijjártó pointed out that
Romania has significant extraction capacities that will be further expanded in the future.
In addition, Hungary’s neighboring country has a large regional storage capacity and access to alternative sources, he noted. “Hungary therefore had an important interest in signing this gas solidarity agreement with Romania as soon as possible,” he said.
Photo: MTI/Balogh Zoltán
He also pointed out that the two countries had already interconnected their gas pipeline networks and had recently increased the capacity of the interconnector, which now has the capacity to transport 2.6 billion cubic meters of gas per year. “Last year, a total of 1.8 billion cubic meters was traded, contributing to the security of energy supply of the two countries,” he said.
The minister added that “following the events of recent years, the southern direction has become dominant in the supply of natural gas to our country, and with the current agreement this will become even more so.”
Via MTI, Featured image: MTI/Balogh Zoltán