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Energy minister issues decree allowing strategic gas reserves to be tapped

Hungary's minister in charge of energy affairs issued a decree on Wednesday allowing gas transmission company FGSz to tap the country's strategic gas reserves, if necessary, Páter Gordos, state secretary at the Transportation, Telecommunications and Energy Affairs Ministry, told Parliament's Foreign Affairs Committee.

The strategic reserves contain 500 million cubic meters of gas, Gordos said.

The daily amount that can be released from the reserves is limited to about 3 million cubic meters for technical reasons, said Hungarian oil and gas company CEO Zsolt Hernádi. Not all of the necessary investments have been completed to raise the amount that can be released, he added.

Hernádi said MOL was taking steps to raise domestic gas production from a daily 8 million cubic meters to 9 million cubic meters.

The daily amount that can be taken out of gas stores will fall eventually as more gas is taken out and pressure drops, Hernádi said.

Hungary has a little more than 3 billon cubic meters of commercial gas stores. (MTI – Econews)