Saturday, July 20, 2024
HomeLNGHungary eyes diversification with Turkish LNG and Azeri gas

Hungary eyes diversification with Turkish LNG and Azeri gas

Last year, Hungary relied on the TurkStream pipeline to cover around half of its total gas consumption, however, the country would like to diversify in the future, potentially with liquefied natural gas (LNG) arriving at Turkish ports and gas from Azerbaijan.

Carrying Russian gas through Turkey to Europe, the Turkstream pipeline delivered 4.8 billion cubic metres (bcm) of natural gas to Hungary last year – about half of the country’s consumption – said Minister of Foreign Affairs and Trade Péter Szijjártó at a joint press conference with Turkey’s Minister of Industry and Technology Mustafa Varank in Budapest. He underlined that the pipeline is a key element of Hungary’s energy security and the only east-west pipeline in Europe operating with 100 per cent capacity.

The TurkStream pipeline consists of two 930-kilometre offshore lines stretching from Russia to Turkey across the Black Sea. The first line with a capacity of 15.75 bcm is supplying Turkey’s domestic customers, while the second line, with another 15.75 bcm of capacity, carries Russian gas further to Europe – including Hungary – through Bulgaria.

According to the Hungarian minister without this delivery route, it would have been impossible to cover Hungary’s gas needs. However, he also referred to the importance of diversification, the inclusion of new energy sources and the construction of new pipelines. The most realistic options, he said, were natural gas from Azerbaijan and liquefied natural gas (LNG) arriving at Turkish ports.

The minister highlighted that talks are already underway between Hungary’s state-owned energy company MVM and its Turkish partner on the potential volume and scheduling of LNG imports to Hungary. The minister noted that the other realistic option for diversification is gas imports from Azerbaijan, but reminded that this requires infrastructure developments in South-Eastern Europe, supported by the European Union.

Sign up for our newsletters

    Monthly newsletter – Delivering the most important energy stories of the month selected by our Editor-in-chief
    Weekly Oil&Gas roundup - All major news about the oil and gas industry, LNG developments, the upscaling of new gases and related EU regulations arriving in your mailbox every Monday.
    Weekly Renewables&Climate roundup - All major news about investments in renewable energy sources, environment protection, green hydrogen and new innovative ways to tackle the climate crisis arriving in your mailbox every Tuesday.

    Most Popular