Hungarian Prime Minister Debunked the Myth of Cheap Russian Gas

Hungarian Prime Minister Péter Magyar debunked the myth that Russian energy resources are cost-effective and stated that there is no longer any cheap gas from Russia. 

“No matter what the previous government claimed, there is no longer any cheap Russian gas,” the Hungarian prime minister emphasized. According to Magyar, the cost of fuel is tied to exchange rates, and Russian energy resources no longer provide Hungary with the economic advantage previously claimed by the Orbán government. 

Therefore, Budapest intends to diversify its supplies, in particular by leveraging Germany’s logistical capabilities for obtaining liquefied natural gas (LNG).

Source: Szeretlek Magyarország.

Hungary is actively considering signing an agreement with the Romanian companies OMV Petrom and Romgaz to supply natural gas from the Black Sea field “Neptun Deep.” 

Hungary is considering replacing the Russian state-owned corporation Rosatom as the main contractor for the Paks Nuclear Power Plant expansion project. According to media reports, the country has already begun searching for alternative service providers to carry out this project.