Hungary

Potential Gas Deal Raises Concerns of Hungarian Influence in Romania

Romania Says No to Russian Gas: Will MVM’s Gigantic Gas Deal be Killed?

In a recent development, Romania’s Energy Minister, Sebastian Burduja, reaffirmed the country’s stance of not wanting to become dependent on Moscow by refusing to buy or allow Russian gas into the country. This decision directly impacts Hungarian state-owned MVM, which had announced its intention to acquire 68% of German E.ON Energie Romania shares. However, the Romanian government is stepping in to potentially block the transaction due to MVM’s connections to Russia.

The Romanian government’s move to intervene comes as a response to concerns about MVM’s Russian ties, as the company is the largest purchaser of Russian gas in Hungary and is involved in managing the expansion of the Paks II NPP using Russian technology and funding. This raises questions about the potential implications of MVM’s gas and electricity deal on Romania’s energy security and geopolitical alignment.

Despite the backlash and political attacks faced by the Romanian government after the announcement of MVM’s acquisition plans, Energy Minister Burduja clarified that the transaction was still under review. The government passed a decree authorizing them to reject the deal if any suspicious elements are found, ensuring that critical infrastructure is not compromised.

For MVM, the acquisition of Romanian E.ON’s shares is seen as an opportunity to establish a direct link to Romanian consumers and secure a market for Russian gas. This strategic move has raised concerns among Romanian politicians who fear a potential dependence on Moscow’s gas supply.

Meetings between Hungarian Prime Minister Orbán and Romanian Prime Minister Ciolacu have not provided clarity on the acquisition plans, but both leaders have expressed a commitment to transparency and oversight of the deal. PM Orbán proposed the establishment of a joint committee to monitor the transaction and address any concerns raised by Romanian authorities.

As the debate over MVM’s gas deal continues, the involvement of Romanian secret services in evaluating the risks associated with the transaction highlights the gravity of the situation. With Romania’s determination to assert its energy independence and avoid reliance on Russian gas, the fate of MVM’s gigantic gas deal hangs in the balance.

 

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