EU country criticizes Brussels for handling of Russian gas, according to media reports
Hungary has allegedly charged the EU with insufficient funding to assist nations in transitioning from Russian natural gas. Read Full Article at RT.com
TroibNews 
Hungary has criticized the European Union for not providing sufficient financial support to smaller, landlocked countries looking to transition away from Russian natural gas dependence, Reuters reported.
At the Gastech conference in Houston on Wednesday, Csaba Marosvari, Hungary's energy security chief, criticized the bloc's approach, stating, "have received more and more pressure" from Brussels to shift away from “Russian fuels faster, but they refuse to provide the funds for us to be able to do this.”
Despite ongoing global tensions, Hungary maintains a significant reliance on Russian energy, procuring gas through a 15-year agreement with Gazprom established in 2021, and continuing to import Russian oil under an exemption from EU sanctions. From the beginning of the year until April 2024, Russia accounted for 41% of Hungary's oil imports and 82% of its natural gas, data from Fitch reveals.
Marosvari further highlighted the financial challenges smaller EU nations face, explaining the economic impediments to diversifying energy sources. He stated, “In our region there are small countries, small markets, few significant market players, lack of capital, these kinds of infrastructure and ‘de-bottlenecking’ projects can cost up to hundreds of millions of euros – in fuel market terms, it is not feasible to fulfill.”
While the European Commission has initiated some financing for green energy projects to reduce fossil fuel dependence, Marosvari noted that these measures have not universally benefitted all member states.
Marosvari also mentioned that Hungary has embarked on short-term agreements for liquefied natural gas purchases from Azerbaijan and Türkiye to reduce its reliance on Russian imports. He highlighted future prospects for increased gas supplies through Turkey and Greece, stating, “The Russians are delivering according to the contracts, for us they are reliable but this does not mean we have to stick to one single source, so we have been conducting a diversification strategy for supply,” and emphasized that Hungary aims to avoid over-reliance on a single energy source by saying, “we don’t put all the eggs in one basket.”
Camille Lefevre for TROIB News
At the Gastech conference in Houston on Wednesday, Csaba Marosvari, Hungary's energy security chief, criticized the bloc's approach, stating, "have received more and more pressure" from Brussels to shift away from “Russian fuels faster, but they refuse to provide the funds for us to be able to do this.”
Despite ongoing global tensions, Hungary maintains a significant reliance on Russian energy, procuring gas through a 15-year agreement with Gazprom established in 2021, and continuing to import Russian oil under an exemption from EU sanctions. From the beginning of the year until April 2024, Russia accounted for 41% of Hungary's oil imports and 82% of its natural gas, data from Fitch reveals.
Marosvari further highlighted the financial challenges smaller EU nations face, explaining the economic impediments to diversifying energy sources. He stated, “In our region there are small countries, small markets, few significant market players, lack of capital, these kinds of infrastructure and ‘de-bottlenecking’ projects can cost up to hundreds of millions of euros – in fuel market terms, it is not feasible to fulfill.”
While the European Commission has initiated some financing for green energy projects to reduce fossil fuel dependence, Marosvari noted that these measures have not universally benefitted all member states.
Marosvari also mentioned that Hungary has embarked on short-term agreements for liquefied natural gas purchases from Azerbaijan and Türkiye to reduce its reliance on Russian imports. He highlighted future prospects for increased gas supplies through Turkey and Greece, stating, “The Russians are delivering according to the contracts, for us they are reliable but this does not mean we have to stick to one single source, so we have been conducting a diversification strategy for supply,” and emphasized that Hungary aims to avoid over-reliance on a single energy source by saying, “we don’t put all the eggs in one basket.”
Camille Lefevre for TROIB News
