Cooperation in the area of natural gas supplies to Hungary began in 1975. Until 1998, gas was exported under the Orenburg AgreementThe Orenburg General Agreement was signed on June 21, 1974 between the USSR and the member countries of the Council for Mutual Economic Assistance (CMEA), including Bulgaria, Hungary, the GDR, Poland, Romania and Czechoslovakia. It provided for the joint development of the Orenburg gas field and construction of the main Orenburg – the Western Soviet Border Gas Pipeline ("Soyuz")..

Today, the main importer of the Russian gas to Hungary is PanrusgazRussian-Hungarian joint-stock company Panrusgaz was founded in 1994 to ensure reliable and efficient supply of natural gas to Hungary, develop mutually beneficial trade relations and maintain the strategic nature of partnership. The company’s shareholders are Gazprom Export LLC, MVM Hungarian Electric Power Company and Centrex Hungaria Zrt. company. In 1996, two long-term contracts for the supply of natural gas to Hungary were signed between Gazprom Export LLC and Panrusgaz for the period up to 2015. They were further extended until 2021. Under these contracts, natural gas exports are carried out in two directions — through Beregovo  at the Ukrainian-Hungarian border, and Baumgarten  at the Slovak-Austrian border.

 From October 2018, Gazprom Export LLC supplies gas to Hungary via its subsidiary WIEE Hungary Kft, on the basis of short term contracts. Moreover, the short-term agreements with the MET International AG company were signed for providing additional gas supplies.

In 2017, a Memorandum of Understanding was signed between Gazprom Export LLC and Hungarian Gas Trade Ltd. on the parties' intention to continue the long-term cooperation in the field of Russian gas supplies to Hungary. At the same time, Alexey Miller, Chairman of the Gazprom Management Committee, and Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, signed a roadmap to implement a number of measures aimed at developing Hungary’s gas transmission system. In accordance with these agreements, consultations are held with the Hungarian side on the extension of existing gas supply contracts to Hungary, and on the implementation of the onshore section of TurkStream gas pipeline via the territory of Hungary.

As of 31 December 2019, a total of 261 bcm of natural gas was exported to Hungary. In 2019, supplies to this country amounted to 11.26 bcm, including 1.33 bcm via WIEE Hungary Kft. and 0.78 bcm of natural gas via MET International A.G.