Hungary and Romania Unite for Gas Supply Security
Hungary and Romania Sign Historic Gas Solidarity Agreement to Ensure Energy Security
In a significant step towards enhancing energy security, Minister of Foreign Affairs and Trade Péter Szijjártó and Romanian Minister of Energy Sebastian Ioan Burduja signed an intergovernmental agreement in Budapest on Monday. The agreement aims to safeguard the security of gas supply and maintain regulated utility prices for households in Hungary.
Szijjártó emphasized the importance of the agreement in increasing Hungary’s energy security by enhancing the country’s gas deliveries from the south. He highlighted Romania’s significant energy production and storage capacity, as well as its access to alternative gas supply routes. The interconnector between Hungary and Romania’s gas networks, with an annual capacity of 2.6 billion cubic meters, played a crucial role in facilitating gas deliveries between the two countries.
The ministers also discussed the potential of purchasing gas from an offshore project in Romania, which is set to make the country a net gas exporter. Szijjártó noted the importance of diversifying the region’s energy supply through such projects. The cooperation between Hungary and Romania is based on practical considerations rather than ideology, with a shared understanding of natural gas’s future role in the energy sector.
Szijjártó highlighted the existing strong energy cooperation between the two countries as a solid foundation for future collaboration. He underlined Romania’s capacity to become a net exporter of natural gas and emphasized the significance of expanding gas cooperation between the two nations.
The historic gas solidarity agreement between Hungary and Romania is expected to enhance Hungary’s energy supply security and support the maintenance of affordable utility prices for households. The commercial negotiations between the countries’ companies are already underway, with the aim of further strengthening bilateral cooperation in the energy sector.
Overall, the agreement marks a significant milestone in ensuring energy security in the region and underscores the commitment of both Hungary and Romania to enhancing collaboration in the energy sector for the benefit of both countries.
