Hungary imported 7.6 Bm3 of gas via Turkstream pipeline in 2024
Hungary imported 7.6 Bm3 of gas from Serbia via the Turkstream pipeline in 2024, with the Serbian interconnector point running at 90% capacity, and this is set to continue, the Hungarian Transmission System Operator FGSZ said on Friday.
Hungary, which has been receiving Russian gas from the south via Bulgaria and Serbia through the Turkstream pipeline, increased its purchases from Gazprom last year, going against an EU drive to reduce reliance on Russian gas and oil.
With Kyiv's refusal to renew a gas transit deal with Moscow this month as it seeks to cut revenues used to fund Russia's war in Ukraine, Hungary's role in the region's gas supply increased -- but so has its exposure to a single major supply route, the Turkstream pipeline.
Hungarian Prime Minister Viktor Orban told state radio earlier on Friday that Turkstream was vital for the country.
"We must prevent, using all means... that this artery of Hungary's economy be cut off. Turkstream must be protected, it must operate," Orban said.
In an emailed reply to Reuters questions, Transmission System Operator FGSZ said on Friday that import capacities on the Serbian-Hungarian interconnection point have been booked up by gas traders, just as in 2024, till the end of the 2026/2027 gas year.
"We have also registered trader interest for beyond that date, even though at lower levels," FGSZ added.
Gas imports from Romania also increased by 15% last year to 1.81 Bm3, versus the available capacity of 2.6 Bm3y, it said. There are talks underway to increase the capacity of the Romanian-Hungarian interconnector, it said, declining to give further details.
"Last year Hungary probably had 3 Bm3–4 Bm3 of excess Russian gas resold to neighboring countries. The amount of excess gas is expected to increase further, as from 2027 gas imports from Romania from the Black Sea could reach 3 Bm3y–4 Bm3y," said Tamas Pletser, EMEA Oil & Gas Analyst at Erste Investment.
FGSZ said gas export capacities on the interconnector to Croatia could also increase in 2026 after development on the Croatian side is completed.
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