February 29, 2024 7:06 pm

EU state to secure its energy supply working with Türkiye — RT Business News

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Hungary intends to clinch an agreement with Turkish state-run oil and gas firm by year’s end, foreign minister says

Budapest is planning to clinch a gas-supply deal with Turkish state-run energy company Botas,  the Hungarian Minister of Foreign Affairs of Peter Szijjarto has said.

“Türkiye will continue to play an important part in Hungary’s energy supply, with negotiations underway to sign a gas purchase agreement with Turkey’s largest energy company by the end of the year,” the minister said in a Facebook post, according to news agency TASS.

Szijjarto had previously said that Budapest was planning to purchase 275 million cubic meters of gas produced in Türkiye in spring-to-summer 2024, adding that work on the agreement with Botas was nearing completion.

According to the minister, the deal will further increase Türkiye’s role in ensuring Hungary’s energy security.

He also highlighted the importance of Türkiye as a transit country for existing gas flows from Russia and other producers like Azerbaijan, which has increased supplies to the EU in recent years, and Turkmenistan, which is seen as a potential energy exporter for the bloc.

For these reasons, energy cooperation between Hungary and Türkiye is “acquiring a new dimension,” Szijjarto said.

Hungary is still receiving most of its gas from Russia via the TurkStream pipeline and its branches running through Bulgaria and Serbia. However, Budapest continues its policy of diversifying energy sources and supplies. At the same time, the country’s government promises it won’t abandon long-term contracts with proven and reliable partners, including Russia’s Gazprom.

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Original Source: EU state to secure its energy supply working with Türkiye — RT Business News

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