ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস

EU not offering enough funding to quit reliance on Russian gas

Hungary has accused the European Union of not doing enough to support landlocked countries in breaking away from Russian natural gas. How will Europe’s leaders respond to this?

According to Csaba Marosvári, Hungary's Deputy Secretary of State for Energy Security, smaller landlocked countries like Hungary need extra funding to reduce their dependence on Russian gas. However, the EU has been slow to lend a helping hand.

"In our region there are small countries, small markets, few significant market players, lack of capital, these kinds of infrastructure and de-bottlenecking projects can cost up to hundreds of millions of euros - in fuel market terms it is not feasible to fulfill," Marosvari said. Currently, nearly two-thirds of Hungary's gas imports come from Russia. At the same time, other European countries are putting pressure on Hungary to speed up its energy diversification.

The official points out that the European Commission's focus on funding "green" energy projects to end reliance on fossil fuels has left some countries without financial support. “Hungary's energy security chief slammed the European Union for not providing enough support to help smaller, landlocked countries move away from Russian natural gas,” Reuters wrote.

At the moment, under a 15-year contract with Gazprom, Hungary receives 4.5 billion cubic meters of gas annually. Unlike other European countries, after the events of February 2022, Hungary quickly made concessions to Moscow and agreed to pay for gas in rubles.

It is worth noting that over the past year, many eurozone countries have significantly reduced their imports of Russian gas to 15% from 50%. However, Hungary has not followed suit and continues to import Russian LNG.

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