Hungary close to securing long-term crude oil supplies

Despite the EU's lack of help, Hungary is making good progress in its negotiations to secure long-term crude oil supplies

Hungarian terminal of the Druzhba oil pipeline. (MTI/Zoltán Máthé)
By Dénes Albert
3 Min Read

Negotiations to guarantee long-term oil supplies to Hungary are nearing the finish line, even though the European Commission has taken no action against Ukrainian measures that threaten Hungarian and Slovakian energy security, Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest on Wednesday.

According to a statement of the ministry, the minister said during a break in the weekly cabinet meeting that the conflicts in the world are getting worse, the processes are not pointing towards peace, and this is also the case in the Central European region as the war in Ukraine is also showing signs of escalation.

He stressed that these various conflicts could also have a very serious impact on energy security, and therefore the government has also reviewed the security of supply situation in Hungary. “What I can tell you is that Hungary’s energy supply is secure despite all the challenges that you are well aware of,” he said.

“Unfortunately, the European Commission continues to behave in an unacceptable way on the issue of Ukraine’s virtual ban on the Russian oil company Lukoil’s deliveries to Hungary and Slovakia,” he said.

Szijjártó pointed out that this Ukrainian move has a significant impact on Hungary’s oil supply, and therefore the Brussels body should take action. “Ukraine and the European Union have an association agreement under which Ukraine cannot block the transit of energy products to EU member states,” he said. Now, despite the fact that Ukraine has violated this association agreement and despite the fact that Ukraine has caused serious challenges for Hungary and Slovakia with this move, it is clear that the support of the European Commission cannot be counted on, he added.

“Therefore, negotiations are in full swing to ensure a balanced oil supply for Hungary in the long term, despite the Ukrainian measure and despite the fact that the European Commission is not helping us,” the minister assured.

“These negotiations are already approaching the finishing line, so we can say that, in addition to the transitional measures in the short and medium term, we can guarantee Hungary’s oil supply in the long term, despite the measures and the lack of concern from Kyiv and Brussels,” he added.

The minister also pointed out that Hungary’s gas supply is running smoothly, unaffected by the escalation of the fighting between Russia and Ukraine, as the Turkish Stream pipeline, via Turkey, Bulgaria, and Serbia, is fully operational.

SOURCES:Mandiner
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