Hungary

Natural gas supply cooperation with Hungary began in 1975, and until 1998 gas was exported under the intergovernmental agreements on developing the Orenburg and Yamburg gas fields.

Panrusgaz, a Hungarian-Russian gas sector joint venture, was set up in 1994 to ensure that Hungary’s long-term imported gas needs would be met reliably, to develop mutually beneficial trade ties, and to maximize the use of opportunities based on strategic partnership. Importing natural gas is the company’s core business. Panrusgaz is Hungary’s leading natural gas supplier (around 65%).

In 1996 long-term contracts were signed with Panrusgaz for natural gas supply to Hungary. Under these contracts, gas is supplied to Hungary via two routes: through Beregovo (Ukrainian-Hungarian border) and Baumgarten (Slovak-Austrian border).

As at December 31, 2016, a total of 235.6 bcm of natural gas had been exported to Hungary since the start of deliveries. Supply to this country in 2016 amounted to 5.54 bcm.

Related sections:
Transportation

Related news:

Russian gas supplies to Hungary climb 37.3 per cent since early 2017 — 01.06.2017

20 years of reliable Russian gas supplies to Panrusgas, Hungary — 05.12.2016

Alexey Miller and Hungarian Ambassador Janos Balla discuss gas market development — 17.10.2016

Alexey Miller and Peter Szijjarto discuss Russian gas supplies to Hungary — 17.06.2016