"The solution in the current circumstances is to address the supply side rather than the demand side," according to Péter Szijjártó.Continue reading
Minister of Foreign Affairs and Trade Péter Szijjártó signed agreements on Hungary’s energy supply in Moscow.
Agreements have been reached with Russia that will ensure Hungary’s uninterrupted and continuous supply of natural gas and oil in the coming period, the minister announced at a press conference in Moscow after talks with Russian Deputy Prime Minister Alexander Novak and the Director of Rosatom, Alexei Likhachev.
Firstly, they agreed to extend the option under which Hungary will be able to buy more than the quantities stipulated in the long-term contract, if necessary. Secondly, they also extended the option for Hungary to pay the part above the €150 price level on a deferred basis, irrespective of the current gas price. Thirdly, Russia has also assured that it has all the technology, know-how, and spare parts to keep the TurkStream pipeline running despite the sanctions, so that this year’s maintenance and upkeep work will go ahead without a hitch.
In addition, an agreement has been reached with Russia to amend the construction and financing contract for the Paks nuclear power plant expansion to allow for the continuation and early handover of the investment.
Szijjártó noted that it was predictable how his visit would be met by reactions from the international liberal mainstream and the domestic opposition.
However, as long as the issue of energy supply is a physical issue and not a political or ideological one, like it or not, Russia and cooperation with Russia will remain crucial for Hungary’s energy security,”
he said.
Featured photo via Facebook/Szijjártó Péter