Hungary signs agreement over gas supply through Turkish Stream

  • Michaela Ceklová
  • 7.7.2017 07:27

Hungary signed a deal with Russian Gazprom on July 5, to connect to the Turkish Stream gas pipeline by 2019, giving Hungary roughly 8 billion cubic meters of gas a year and practically covering all Hungarian consumption.

Hungary signed the treaty with Russia only a day before Trump's announcement of a possible increase in exports of U.S. liquefied gas (LNG) to Central Europe as an alternative to Russian gas supplies. According to Trump, this move would lead to reducing dependence on Russian gas, but Hungary perceives it as a political instrument. Hungary could potentially connect to the planned LNG terminal in Croatia, unfortunately, the date of construction is still not set. The fact remains that Central and Eastern European countries do not have enough LNG terminals to compete with existing gas pipelines from Russia. Turkish Stream, whose construction should be completed in 2019, is expected to supply 15.75 billion cubic meters of gas to Turkey, and another 15.75 billion to southern and southeastern Europe.

About author: Michaela Ceklová

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