Hungary to store more Russian gas due to cancellation of South Stream

Jan 14, 2015 12:00 AM

Hungary wants to store more Russian gas after a major pipeline plan was cancelled, Foreign Minister Péter Szijjártó told. The minister said he had proposed to Russian Energy Minister Aleksandr Novak that Russia should store more gas in Hungary’s underground reservoirs, following the cancellation of Russia’s South Stream gas export plan.

If there is a country on the globe that is interested in a quick solution based on negotiations according to the Minsk protocol that is Hungary for sure (Péter Szijjártó, Hungary’s foreign minister)

“With South Stream being cancelled we now have to look for new ways, how to get new sources and new routes into Central Europe,” he said, adding that Hungary would not sell any of its gas storage facilities to Russia. Szijjártó said energy issues would feature high on the agenda in a visit by German Chancellor Angela Merkel next month, along with the conflict in neighbouring Ukraine. Most of the gas in Hungary comes from Russia via Ukraine. Szijjártó also told that Hungary would back any common European line on Ukraine.

Gazprom has already stored up to 700 million cubic meters of gas in Hungary since last year, Szijjártó noted. Szijjártó said Hungary wanted to tap Russian gas via Turkey as well, and more talks would follow with Turkey, Greece, Macedonia and Serbia. Azerbaijan remained another possible gas source, he said.

Regional crossborder interconnectors along a northsouth corridor and possible imports from Croatia via a planned liquefied natural gas (LNG) terminal there were also desirable. The EU should assist these plans financially, he said.

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