In a recent development on Sunday, Russian foreign ministry has assured continuous gas shipments to Hungary amidst rising concern of gas and fuel shortages post Russia-Ukraine war. Gazprom is all set to conduct the contractual obligations of the country. All these developments were restated by the Hungarian Foreign Minister, Peter Szijjarto in a public interview on radio.
The Russian energy giant Gazprom had cut supplies to Denmark’s Shell Energy (SHEL.L) and Orsted (ORSTED.CO) as a result of Russia’s response to the contracts made by Western sanctions meted on Moscow soon after the invasion of Ukraine.
Gazprom has also cut short supplies to GasTerra, a leading Dutch gas trader alongside countries like Finland, Poland and Bulgaria as they refused payments to Russia for gas roubles under the new national scheme.
The Hungarian Foreign Minister Szijjarto reiterated that Alexey Miller, the CEO of Gazprom and Alexander Novak, the Deputy Prime Minister, had both provided an assurance over pone that company is going to fulfil all obligations to Hungary, as per stated in the contract. Szijjarto, however, did not comment on when the phone call happened; the foreign ministry had not replied immediately to the request made by the comment.
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In a deal signed with Gazprom signed back in 2021, Hungary regularly receives approximately 3.5 billion cubic metres (bcm) of gas every year, which enters Hungary via Serbia and Bulgaria under the long-term deal made with Russia and Austria for the use of their respective pipelines.
The deal signed by both parties is valid for 15 years, which further can be modified in terms of purchasing quantities after ten years of proper sustenance. On Sunday, Szijjarto further stated that Hundary’s gas supply as well as its energy security stands stable now, and that the gas shipments arrive daily as per guidelines meted out in the contract.
Recently, on Friday, the Russian gas exports to Europe had fallen short of demand with Italy and Slovakia to have reportedly received far less than half the volume received on usual days through the Nordstream 1 pipeline. This pipeline passes through the Baltic Sea that flows between Russia and Germany. It also accounts for 40% of Russian pipeline flow to the Europen Union (EU).
German officials on Sunday have announced further steps to enhance and multiply gas storage levels as a security for the next winter season amidst the fear of reduction or complete eradication of supplies imposed by Russia.
