New oil and electricity transport capacities can be created between Hungary and Serbia
According to the announcement sent by the ministry, Szijjártó highlighted at the event, among other things, the important energy security role of the Turkish Stream gas pipeline, which is currently the only gas pipeline operating at 100 percent capacity in the east-west direction on the continent. He also indicated: last year, 4.8 billion cubic meters of natural gas arrived in Hungary via Serbia, which is close to the entire domestic consumption, and 438 million cubic meters were transported in the other direction.
He reminded him that the natural gas storage facilities in Hungary its charge (67%) currently covers 42 percent of the annual Hungarian consumption, while the European average is only 21 percent, which is why he stated that
Hungary’s energy supply is secure.
He pointed out that if the extraction rate decreases, it happens because the industry uses less natural gas. “The radical decrease in natural gas consumption foreshadows the economic recession,” the ministry said in a statement.
The increase of the Hungarian-Serbian crude oil supply capacity was already concretely established in October, the purpose of which is to ensure the supply of Russian Ural crude oil to Serbia via the Friendship Pipeline, after the supply of the country via Croatia may be in jeopardy due to the new sanctions:
Cover image source: Péter Szijjártó’s Facebook page