Hungary to phase out Russian gas
Orbán referred to the EU’s established timeline for member states to gradually phase out Russian gas imports.
“The EU has set a clear deadline for gradually phasing out imports of Russian natural gas: the fall of 2027,” she said.
The minister also spoke about measures to diversify oil supplies. Hungarian energy company MOL is preparing its refineries to potentially process non-Russian crude oil. It will be delivered via Croatia’s JANAF pipeline.
Previously, the United States granted Hungary a temporary exemption from certain sanctions related to purchases of Russian oil. The exemption is valid until November 21 and covers oil purchases from Russian companies Lukoil and Rosneft.
At the same time, MOL is exploring technological changes that would allow it to source crude oil from other suppliers.
Gazprom stake purchase
MOL may also acquire Gazprom’s stake in Serbian oil company NIS, which owns Serbia’s only oil refinery. The US Treasury Department’s Office of Foreign Assets Control (OFAC) has authorized continued negotiations with Gazprom until December 11, Orbán said.
The minister said the Serbian, Russian, and Hungarian sides appear determined to complete the deal by the deadline.
Hungary as a transit hub
Orbán also described Hungary as a potential major transit and distribution hub for natural gas and crude oil.
She highlighted several advantages:
Significant energy storage capacity
Connections with six neighboring countries
MOL’s regional influence.
In her view, these factors could help facilitate energy supplies to other countries.