Gazprom chief: Hungarian gas supply secure

Energy Trade

The 700 mln cubic meters of Russian natural gas currently stored in Hungarian facilities provides a guarantee of the security of Hungary's gas supply, Russia's Gazprom said yesterday after a meeting between Hungarian Ambassador János Balla and Gazprom CEO Alexey Miller, MTI reports.

The two parties discussed Hungary's gass supply for the winter, according to reports. They also discussed gas transit through Hungary and progress on preparations for the construction of the South Stream pipeline, which is expected to deliver 63 billion cubic meters of gas to the countries involved in the project as of 2018.

Responding to Hungarian business daily Napi Gazdaság’s query, Gazprom said that its gas stores in Europe currently exceed 5.3 bln cubic meters, and that to aims to increase storage capacity in Europe, to bring levels up to 5% of total exports to the region by 2030.

Last year, Gazprom delivered 6 billion cubic meters of gas to Hungary, with an export of 161.5 billion cubic metres to Europe.

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