Hungary does not view Russian gas as cheap, looks for alternatives — premier

Résumé détaillé

Peter Magyar added that the government is seeking to diversify sources and routes of deliveries in order to be in a position to discuss transit tariffs

BUDAPEST, November 11. /TASS/. The Hungarian government does not consider Russian gas prices to be low and is looking for other suppliers to import it at the best price, Hungarian Prime Minister Peter Magyar said.

Speaking to ATV television about his government’s efforts to diversify energy imports, Magyar said: "Contrary to the assertions of the previous government [led by Viktor Orban], the gas coming from Russia is actually not cheap at all."

"All prices are pegged to exchange quotations; that is why there is no such concept as ‘cheap Russian gas.’ Its cost is tied to the price at the TTF gas hub," Magyar continued, referring to Title Transfer Facility, the Netherlands-based virtual trading platform that serves as the main price benchmark for the European natural gas market.

"The price of natural gas supplied to Hungary is made up of a number of factors, among which transit costs play a significant role," the premier continued, adding that this is why his government is seeking to diversify sources and routes of deliveries.

"This gives us a stronger negotiating position. If gas comes only from one or two sources, then our position is weak, but if it can come from eight different reliable sources, then we get the opportunity to discuss transit tariffs and even bargain over the matter," Magyar added.

He emphasized that the government and the state-run company MVM will seek to "form an energy mix that could ensure reliable supplies at the most affordable prices possible." "We are working on that," the premier said, adding that he plans to hold a series of meetings with his European counterparts soon as part of this effort.

Currently, Hungary predominantly receives its oil via the Druzhba pipeline and its natural gas through the TurkStream pipeline, along with branches through Bulgaria and Serbia. According to previous government estimates under Orban, Hungary imported over 8.5 million tons of oil and more than 7 billion cubic meters of natural gas from Russia in 2025.

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