Hungary will not agree to EU gas price cap, will need exemption
Hungary will not agree to an EU price cap on imported gas because it would end Russian deliveries, a senior aide to Prime Minister Viktor Orban said, adding that if Continue Reading
Only One EU Member Is Still Receiving Russian Natural Gas
Three of four pipelines delivering Russian natural gas to Europe are now offline. Hungary is the only member of the European Union still receiving natural gas from Russia. Hungarian Prime Continue Reading
Gazprom ramps up gas flows to Hungary via Turkstream pipeline, official says
Russia’s Gazprom (GAZP.MM) has ramped up flows to Hungary via the Turkstream pipeline that brings gas to Hungary via Serbia, a Hungarian foreign ministry official said on Saturday. European Union Continue Reading
Hungarian Refiner Pays Russia’s Transit Fee to Restart Oil Flows
Hungary’s biggest refiner said it has paid Russia’s transit fee to Ukraine to resolve a dispute that has led to a halt in oil flows to central Europe. Mol Nyrt., Continue Reading
‘Best we could get’: EU bows to Hungarian demands to agree Russian oil ban
European Union leaders handed Hungary concessions to agree an oil embargo on Russia over its invasion of Ukraine, sealing a deal in the wee hours on Tuesday that aims to Continue Reading
EU cracks widen over Ukraine as Italy, Hungary urge truce
taly and Hungary have urged the EU to call explicitly for a ceasefire in Ukraine and peace talks with Russia, putting themselves at odds with other member states determined to Continue Reading
Hungary Imposes Windfall Tax On Energy Companies
A day after declaring a state of emergency, Hungarian leader Viktor Orban said on Wednesday that big companies operating in the country, including energy companies, would be forced to turn Continue Reading
Hungary must work with EU on Russian oil embargo – German economy minister
German Economy Minister Robert Habeck has warned Hungary against blocking efforts to impose a European Union-wide embargo on Russian oil imports in response to the war in Ukraine. “There are Continue Reading
Hungary needs EU cash to diversify energy supply, Poland says
Hungary needs European Union funds to be unlocked to diversify its energy supplies, Poland’s president said on Tuesday, offering some support to a country that has blocked a proposed EU Continue Reading
EU ministers fail to persuade Hungary to sign up to Russian oil embargo
EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being Continue Reading
EU may offer Hungary, Slovakia exemptions from Russian oil embargo
The European Commission may spare Hungary and Slovakia from an embargo on buying Russian oil, now under preparation, wary of how dependent the two countries are on Russian crude, two Continue Reading
Breaking ranks with EU, Hungary says ready to pay for Russian gas in roubles
Hungary said on Wednesday it was prepared to pay roubles for Russian gas, breaking ranks with the European Union which has sought a united front in opposing Moscow’s demand for Continue Reading
Why Orban’s Election Victory in Hungary Matters for Ukraine
Hungarian Prime Minister Viktor Orban in January. Hungarian Prime Minister Viktor Orban, the closest thing Russian President Vladimir Putin has to a friend in the club of European Union leaders, Continue Reading
Hungary rejects sanctions on Russian energy shipments -foreign minister
Hungary does not support any sanctions on Russian energy shipments as it would endanger Hungary’s energy security, foreign minister Peter Szijjarto said on Wednesday at the United Nations Human Rights Continue Reading
Hungary’s PM Orban blames EU climate change actions for energy price surge
Hungarian Prime Minister Viktor Orban on Friday blamed European Union action to combat climate change for a surge in energy prices, and said that Poland and Hungary would present a Continue Reading
Ukraine resumes oil supplies to Hungary
Ukrainian oil transit company UkrTransNafta has resumed oil transit toward European consumers after Hungary confirmed that it was ready to receive Russian oil, the company said on Tuesday. UkrTransNafta said Continue Reading
Balkans hydropower production, reserves continue to fall over week 39
Hydropower production across the Balkans continued to fall in Week 39, mostly as a result of lower run-of-river output, while reservoir levels also dropped, according to hydrological reports and ENTSO-E Continue Reading
Hungary imports oil from Iraq’s Kurdistan at expense of Russian crude: sources
A flame rises from a chimney at Taq Taq oil field in Arbil, in Iraq’s Kurdistan region, August 16, 2014. Picture taken August 16, 2014. Hungary has increased oil imports from Iraq’s Kurdistan region at the expense of Russian crude in a sign that Middle East producers could be gaining ground in a battle with Moscow for global market share, according to trading sources. This would also be the first confirmation of large Kurdish oil shipments to Europe as autonomous Kurdistan is locked in a standoff with Baghdad over lucrative exports and faces repeated sabotage of the pipeline carrying crude to Turkey’s Ceyhan port. Hungarian oil group MOL receives the bulk of its oil imports from Russia. But it has stepped up imports of oil from Kurdistan since the summer, the sources told Reuters without giving specific volumes, part of a wider increase in seaborne crude purchases for the […]
Putin Offers Hungary Natural-Gas Deal
ENLARGE Russian President Vladimir Putin, center, and Hungarian Prime Minister Viktor Orban, right, arrive to speak to the media following lengthy talks at Parliament Tuesday in Budapest. Photo: Getty Images Russian President Vladimir Putin offered Hungary’s Kremlin-friendly government more favorable terms for natural-gas supplies during a visit to Budapest that underscored Europe’s challenge in defying Moscow over Ukraine amid reliance on Russia for energy. Under a new deal, Hungary will pay Russia only for the gas it actually consumes, as opposed to the volume it contracts, lowering costs for Hungarian authorities. Hungary relies on Russia for 70% of its gas, supplied under a 20-year contract that expires this year. Hungarian Prime Minister Viktor Orban said a political agreement on the gas deliveries had been reached, though technical details needed to be completed. He made a joint appearance with Mr. Putin in Budapest, a public-relations victory for a Russian president […]
Hungarian Imports of Russian Diesel Fuel Via Ukraine Disrupted
BUDAPEST—Hungarian oil and gas company MOL Nyrt said on Tuesday that it has experienced disruptions in the supply of diesel fuel flowing through a pipeline from Russia via Ukraine. The company, which replied by email to questions posed by The Wall Street Journal, didn’t disclose the nature of the disruption. MOL said only that its “Russian partner fulfills its long-term contractual obligations.” Ownership of the diesel pipeline, however, has been in dispute between Ukraine and Moscow, as Kiev considers the Russian pipeline as Ukrainian property, a source close to the matter outside MOL said. MOL also imports crude oil from Russia via Ukraine, but the company said it hasn’t suffered disruptions so far and “hoped there won’t be any in the future.” MOL also said its refineries could be supplied with crude oil via an Adriatic pipeline, if necessary. Energy issues have been in the forefront in the bitter […]
Hungary To Store Natural Gas for Russia’s Gazprom
By Margit Feher BUDAPEST–Hungary will store natural gas for Russian energy giant OAO Gazprom to help the Russian firm comply with its long-term delivery contracts should there be problems with its regular shipment routes, Hungary’s state-owned power firm MVM said Friday. One of Gazprom’s main shipment routes from Russia to Western Europe run through Ukraine. "Despite the Russian-Ukrainian conflict, shipments from Russia [to Hungary] are uninterrupted, the Russian partner is fulfilling its long-term contract obligations," MVM said. Under a contract with Gazprom Export LLC, Hungary will store 700 million cubic meters on behalf of Gazprom. Of that amount, 135 million cubic meters have already been pumped into Hungary’s storage facilities, MVM said in a statement. Storing gas for Gazprom will boost Hungary’s storage levels by more than 10%, increasing the country’s supply safety ahead of the winter, while the fee Gazprom pays for the service will also add to […]
Hungary halts flow of gas to Ukraine
General view of the gas station near the border between Ukraine and Poland in the settlement of Drozdovychi, 120 km (75 miles) west of ukrainian city of Lviv. Hungary has stopped supplying gas to Ukraine through a “reverse flow” pipeline just days after the head of Russia’s Gazprom monopoly visited Budapest, Ukraine’s gas utility said. Naftogaz, the Ukrainian distributor, said Hungary had stopped transporting gas at 19.00 Ukrainian time on Thursday, notifying Kiev that it was halting supply “for technical reasons” until further notice. It came after Alexei Miller, Gazprom chief executive, on Monday met Hungary’s premier Viktor Orbán, Naftogaz said. The stoppage put further pressure on Ukraine and the EU ahead of trilateral talks with Russia in Berlin on Friday over restoring gas supplies to Ukraine after Gazprom suspended them because of a dispute over pricing and payment arrears. Hungary, together with Slovakia and Poland, have been helping […]