15-year contracts signed for supplies of Russian gas to Hungary

Gazprom will supply 4.5 bcm/year of natural gas to Hungary, with 3.5 bcm/year via Serbia and 1 bcm/year via Austria.

The first five months of 2021 Gazprom’s gas exports to Hungary increased by 14.6 per cent compared to the same period of 2020.

Hungary has four nuclear reactors generating about half of its electricity. In 2018, nuclear accounted for 49% of its electricity mix, natural gas for 23%, and coal for 15%. Poland's Energy Policy for 2040 is based on three pillars: a just transition; a zero-emission energy system; and good air quality. As part of this policy, Poland plans to build six nuclear units by 2043.

Turkey is a strategic European Union ally that helps the bloc's security and stability and provides diversification of energy resources,

Rusatom Service is a subsidiary of Russian state nuclear corporation Rosatom, while MVM Group is Hungary's biggest power producer, which owns several power plants including the Paks Nuclear Power Plant subsidiary.

In 2019, Gazprom exported an estimated 9.3 billion cubic meters of gas to Hungary from the year’s beginning through October 29, and that is already a 22 per cent increase compared with the total gas supplies to Hungary recorded in 2018.

Gazprom's supplies to the country over nine and a half months of 2019 totaled 8.9 billion cubic meters of gas, 17 per cent more than in the entire year of 2018.

Hungary's economy is expected to finish 2019 on a strong footing, growing well above 4 percent.

Gazprom's supplies to Hungary from January 1 through June 5, 2019, totaled 4.3 billion cubic meters of gas, a 57.5 per cent increase versus the same period of 2018.