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Hungary imported 7.6 bcm of gas via Turkstream pipeline in 2024

Hungary imported 7.6 bcm of gas from Serbia via the Turkstream pipeline in 2024, with the Serbian interconnector point running at 90% capability, and this is set to continue, the Hungarian Transmission System Operator FGSZ informed Reuters on Friday.

Hungary, which has been receiving Russian gas from the south by means of Bulgaria and Serbia through the Turkstream pipeline, increased its purchases from Gazprom last year, going versus an EU drive to decrease reliance on Russian gas and oil.

With Kyiv's

rejection to renew a gas transit offer

with Moscow this month as it seeks to cut earnings utilized to fund Russia's war in Ukraine, Hungary's role in the region's gas supply increased-- but so has its direct exposure to a single significant supply route, the Turkstream pipeline.

Hungarian Prime Minister Viktor Orban told state radio earlier on Friday that Turkstream was essential for the nation.

We need to prevent, utilizing all means ... that this artery of Hungary's economy be cut off. Turkstream should be safeguarded, it should operate, Orban said.

In an emailed reply to Reuters questions, Transmission System Operator FGSZ stated on Friday that import capacities on the Serbian-Hungarian affiliation point have been booked up by gas traders, simply as in 2024, till the end of the 2026/2027 gas year.

We have actually likewise signed up trader interest for beyond that date, even though at lower levels, FGSZ added.

Gas imports from Romania likewise increased by 15% in 2015 to 1.81 bcm, versus the readily available capacity of 2.6 bcm per year, it stated. There are talks underway to increase the capability of the Romanian-Hungarian interconnector, it stated, decreasing to offer further information.

Last year Hungary most likely had 3-4 bcm of excess Russian gas resold to neighbouring nations. The quantity of excess gas is anticipated to increase even more, as from 2027 gas imports from Romania from the Black Sea might reach 3-4 bcm per year, said Tamas Pletser, EMEA Oil & & Gas Expert at Erste Investment.

FGSZ said gas export capabilities on the interconnector to Croatia might also increase in 2026 after advancement on the Croatian side is finished.

(source: Reuters)