Lantos Augurs 5x Increase in Energy Investments

Energy Trade

Minister of Energy Affairs Csaba Lantos augured a five-fold increase in energy infrastructure investments in Hungary in the coming seven years in an interview published by the news portal index.hu this week.

"Hungary needs to enter a much more investment-intensive era, in the area of energy, too. We're getting ready to raise infrastructure investments necessary for sufficient energy supply by a factor of five in the coming seven years compared to the last seven years," Lantos said.

He added that investments would focus on renewable energy resources, network development, and infrastructure upgrades that increase flexibility.

The minister pointed to Hungary's high degree of vulnerability in energy dependence and said the country needs to advance in the direction of energy sovereignty "even during periods when that endeavor isn't the most economical."

He put the security of supply on a par with energy sovereignty and said Hungary can't decline energy sources for "ideological reasons" as that would "put Hungarian families and the economy at risk."

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