Hungary | Oil & Gas Feed

Hungary has imported 275 million cubic metres of gas from Turkey this year and the two countries have now agreed to continue the partnership, announced the Minister of Foreign Affairs and Trade.

Gas consumption in Hungary was down by ten per cent year over year in the first three months of 2024, according to a summary from the Central Statistical Office, based on data provided by the MVM Group energy company. 

Hungary’s Ministry of Energy has announced new mining concessions for hydrocarbon exploration and extraction to enhance domestic energy production and reduce reliance on imports.

Hungary's Minister of Foreign Affairs and Trade Péter Szijjártó highlighted the importance of the Turk Stream gas pipeline in terms of Hungary’s gas supplies, as well as Hungary’s 15-year gas purchase agreement with Gazprom, signed in 2021.

The Energy Affairs Ministry in Hungary said that output from industrial solar power plants reached a record high of 3,334 MW on August 23, citing data from the TSO MAVIR that is measured every quarter of an hour. 

From October next year 54 GWh of clean green energy will be generated annually by a new solar farm built for BMW Group Hungary, E.ON Hungary said, adding that construction of the 70,000 solar panel facility is now underway.

Ukraine has halted the transit of Russian crude oil from Lukoil through its territory, impacting Hungary and Slovakia. Now, the two countries are looking for alternatives.

Today, Hungary takes over the presidency of the Council of the European Union promising to focus on ensuring an affordable, secure, and sustainable energy for EU industries and citizens.

GoldenPeaks Capital has successfully completed the financing of a portfolio of solar PV projects with a total capacity of 64.5 MWp in Hungary.

Hungary will acquire a stake in Azerbaijan's Shah Deniz gas field, one of the largest in the world, the Hungarian Minister of Foreign Affairs and Trade said in Baku. Péter Szijjártó underlined that the historic agreement will place Hungary's natural gas supply security in an entirely new dimension.

Cooperation between Hungary and Uzbekistan may be extended to the area of nuclear energy in the future, announced Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó.

Azerbaijan and Hungary held the fourth meeting of the Working Group on Energy at the Ministry of Energy of Azerbaijan to review the development of their cooperation in various fields of energy.

Minister of Foreign Affairs and Trade, Péter Szijjártó said natural gas will start flowing from Turkey to Hungary on 1 April.

Slovakia has initiated negotiations with Austria and Hungary to discuss the security of gas supply, in the case of a possible termination of gas transport through Ukraine after 2024. 

A new 48 megawatts (MW) solar power plant was inaugurated in Kiskunhalas, Hungary, where they are also planning a geothermal project. Hungary's energy security relies on renewables and nuclear energy, emphasised the Minister of Energy.

BYD has signed a strategic retail agreement with its third partner in Hungary. The Chinese electric vehicle giant plans to also leverage the electric car purchase support program launching in February to strenghten its market position in Hungary.

In 2023, Hungary witnessed a continued decline in gas and electricity consumption, informed the Ministry of Energy of Hungary. In the past two years, natural gas consumption has fallen by 23 per cent in the country.

Hungary eases the legal conditions for installing wind turbines to scale up green energy production, announced the Ministry of Energy. Hungary's National Energy and Climate Plan, currently under review, expects to triple the country's current wind energy capacity of around 330 MW by 2030.

Hungary's energy ministry announced that Hungary, Serbia and Slovenia will start operating a regional electricity market in 2024.

Hungary’s Minister of EU Affairs János Bóka has issued a strong critique against Bulgaria’s new energy tax on Russian natural gas, highlighting potential violations of EU law and a threat to regional energy security.