Cost of Russian gas, rising demand, situation in Europe: what we know

Résumé détaillé

Hungary’s Prime Minister Peter Magyar said that his government does not consider Russian gas to be cheap and continues to look for alternative sources to import fuel at the most favorable prices

MOSCOW, November 11. /TASS/. Negotiations on future Russian gas supplies to Serbia and a long-term contract are ongoing. Moscow remains committed to all original agreements, Russian Foreign Minister Sergey Lavrov said at a meeting with Aleksandar Vulin, chairman of the supervisory board of the state-owned enterprise Srbijagas.

Meanwhile, Hungary’s Prime Minister Peter Magyar said that his government does not consider Russian gas to be cheap and continues to look for alternative sources to import fuel at the most favorable prices.

- Contrary to statements made by Viktor Orban’s administration, the Hungarian government does not consider Russian gas to be cheap, stated Prime Minister Peter Magyar.

- He noted that the cost of gas supplied to the country is determined by several factors, with transit costs playing a significant role.

- According to him, Hungary continues to look for alternative sources to import fuel at the most favorable prices.

- In Magyar’s view, this provides the country with a stronger negotiating position.

- He emphasized that the government and the state-owned company MVM will seek to develop an energy mix that ensures reliable supplies at the most affordable prices possible.

- Over the first nine months of the year, European Union imports of Russian liquefied natural gas (LNG) reached approximately 16.5 billion cubic meters, compared with 15 billion cubic meters during the same period last year, according to TASS calculations based on data from the European think tank Bruegel.

- In particular, 1.1 billion cubic meters of Russian LNG were delivered to Europe in September--a 59% increase from August and a volume comparable to that of September of the previous year.

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