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Hungary states TurkStream could assist Europe if Ukrainian gas transit stops

The TurkStream pipeline that ships Russian gas to Turkey by means of the Black Sea could help Europe to handle the anticipated loss of gas transited via Ukraine, Hungarian Foreign Minister Peter Szijjarto said on Thursday.

A five-year deal between Kyiv and Moscow on Russian gas transit through Ukraine to Europe will expire on Dec. 31 2024, and the contract's extension is considered not likely provided the military conflict between the 2 ex-Soviet nations.

Szijjarto, speaking at the St Petersburg International Gas Online forum, likewise stated that the loss of the Russian gas transit via Ukraine will not hurt Hungary as the country gets Russian gas by means of the TurkStream pipeline.

This alternative path may help not only Hungary, but other countries of Central Europe if they face a severe scenario in case there is no transit through Ukraine, he said.

Hungary, in contrast to most European Union nations, seeks to preserve close political and company ties with Russia.

Ukraine has stated it will not renew its handle Russia, and Moscow has stated the decision lies with Ukraine and Europe.

Russia shipped about 15 billion cubic metres (bcm) of gas by means of Ukraine in 2023 - 8% of peak Russian gas flows to Europe by means of different routes in 2018-2019.

Szijjarto stated Hungary is pleased with cooperation with Russian energy giant Gazprom and that it has no attractive options. He also stated Hungary will sign an addendum to the gas agreement with Gazprom later Thursday.

This year we are receiving 6.7 billion cubic metres of gas entirely from Gazprom in Hungary ... This will make TurkStream absolutely used in its full capability, Szijjarto said.

(source: Reuters)