BAKU, Azerbaijan, April 26. Hungary sees no difficulties for itself with gas supply in 2024 and in the upcoming fall-winter season 2024–25, as it has many favorable offers and is increasing its gas production, Hungary's largest wholesale trader of natural gas, MVM CEEnergy Zrt, told Trend.
“Hungary's annual gas demand is eight to nine billion cubic meters. Out of this, in 2024, about 70 percent will be covered by gas supplies from Russia (at a favorable price for us). We will also get a part of it from Türkiye, Qatar, and other sources. If Azerbaijan presents a favorable offer, we can buy gas from it as well. There will be no problems with gas supply to Hungary,” MVM CEEnergy explained.
A source in the company noted that from April 2024 until the beginning of the heating season, the Turkish company Botas will supply 275 million cubic meters of gas to Hungary based on the agreement signed in 2023.
“We also plan to produce up to two billion cubic meters of gas in the southern region of Hungary in areas near the borders with Romania and Serbia in 2024,” the source stressed.
According to him, Hungary is not yet planning to direct significant investments in exploration and production in Hungary itself, as it receives gas from abroad at favorable prices.
“The underground gas storage (UGS) capacities in Hungary are more than six billion cubic meters, and they are already 60 percent occupied with gas. The UGS will be filled with gas by the heating season,” the source said.
The source mentioned that Hungary is involved in gas pipeline projects in Europe as it is interested in diversifying gas sources.
“The construction of the interconnector with Slovenia will start this year. Thus, it will be even easier for us to get gas from different sources,” MVM CEEnergy said.
To note, Hungary bought 50 million cubic meters of gas from Azerbaijan for its CCGT in 2023 and started using it in April 2024.
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