Hungary plans to replace Russian gas with Romanian gas within a year
Hungary is negotiating with Romania on natural gas purchases from the Black Sea Neptun Deep field, the development of which is planned to begin in 2027. This was announced by Hungary's Minister of Economy and Energy, István Kapitány.
According to István Kapitány, the parties discussed what needs to be done for Hungary to be able to purchase and receive gas from the Black Sea. Budapest also intends to develop cooperation in this area with Croatia. The countries plan to agree on commercial terms and ensure the necessary pipeline capacities.
The Neptun Deep field is being developed by OMV Petrom and Romgaz, each owning 50% of the project. Its recoverable reserves are estimated at 100 billion cubic meters of gas, and the investment volume is about four billion euros. After reaching full capacity, annual production could reach eight billion cubic meters. For comparison, Hungary consumes about 8.5 billion cubic meters of gas per year.
Hungarian Prime Minister Péter Magyar stated that purchases of Russian gas no longer provide the country with a price advantage. According to him, contrary to the statements of the previous government, there is no more cheap Russian gas. The price of this fuel also depends on exchange rates.
Magyar believes that expanding the circle of suppliers will allow Hungary to achieve more favorable gas transit tariffs. The previous government of Viktor Orbán opposed abandoning Russian fuel, justifying its position by its low cost.
On November 4, Hungarian Foreign Minister Anita Orbán announced the country's intention to stop importing Russian gas by autumn 2027. From January 1, 2027, a ban on the supply of Russian liquefied gas under long-term contracts will come into force in the European Union, and from September 30 — on pipeline gas.
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