Hungary could become gas distribution center

Energy Trade

Taking into account the countryʼs storage capacity, Hungary could become a regional gas distribution center with its gas supplied mainly by Russia, business daily Napi Gazdaság said, citing Russian ambassador to Budapest Vladimir Nikolaevich Sergeev, Hungarian news agency MTI reported.

In an interview with the paper, Sergeev said it would serve Hungaryʼs interests to establish a regional gas distribution center as this would improve security of supply. Hungary has the fifth largest capacity in the EU, with an ability to store approximately 6 billion cubic meters of gas.

He suggested that a local distribution center could be filled for the most part with Russian gas in the foreseeable future. Sergeev noted that sanctions imposed by the EU and Russian counter-measures are the main obstacle to Hungaryʼs exports to Russia, and he expressed hope that normal trade relations can be restored as soon as possible.

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