Hungary intends to stop importing Russian natural gas by autumn 2027, in line with the European Union’s schedule for phasing out Russian energy supplies. This was announced by Minister of Foreign Affairs and Trade Anita Orban in an interview with the Hungarian publication Telex.
“The EU has set a clear deadline for the complete cessation of Russian natural gas imports: autumn 2027,” Orban said. The Council of the EU adopted the rules for a phased ban on Russian liquefied and pipeline gas. The full ban on liquefied natural gas is due to begin at the start of 2027, while the ban on pipeline gas will come into force in the autumn of the same year.
MOL is preparing its refineries for non-Russian oil
Alongside its withdrawal from Russian gas, Hungary is working to diversify its oil supplies. According to Orban, the energy company MOL is preparing its refineries to process crude oil from other sources. The supplies could be delivered via Croatia’s JANAF pipeline.
MOL is already examining technological adjustments that would allow its refineries to use oil from alternative suppliers. Hungary has a temporary exemption from US sanctions related to purchases of Russian oil from “Lukoil” and “Rosneft”. It is in effect until November 21.
Talks over Gazprom’s stake in NIS
One of the options under discussion is for MOL to acquire Gazprom’s stake in the Serbian oil company NIS, which owns Serbia’s only oil refinery. The US Treasury Department’s Office of Foreign Assets Control has authorized the talks to continue until December 11.
“There is a strong intention on the part of all sides – Serbian, Russian and Hungarian – to finalize this deal by December 11,” Anita Orban said, as quoted by Telex. The potential acquisition would also be significant for negotiations over the use of JANAF, as the refinery in Pancevo is supplied via this pipeline.
Budapest sees an opportunity for a regional energy hub
According to Orban, Hungary could become a significant transit and distribution hub for natural gas and crude oil. She noted that the country has large gas storage facilities, is connected to six countries and can supply energy resources to other markets.
For gas, the alternatives under discussion include increasing the capacity of Croatia’s liquefied gas terminal, connections through Greece to Azerbaijani gas, and the use of terminals in Poland and Lithuania. Orban noted that this would require additional infrastructure capacity.
Sources: news.bg, telex.hu