Prospects for the Diversification of Natural Gas and Oil Supply Sources to Hungary
Prospects for the Diversification of Natural Gas and Oil Supply Sources to Hungary

Author(s): Veronika Jóźwiak, Maciej Zaniewicz
Subject(s): Energy and Environmental Studies, Economic policy, Environmental and Energy policy, International relations/trade
Published by: PISM Polski Instytut Spraw Międzynarodowych
Keywords: Hungary; gas; energy; natural gas; oil supply; diversification;
Summary/Abstract: The Hungarian government opposes the imposition of EU sanctions on the import of energy resources - especially gas - from Russia. The authorities explain this decision with Hungary’s high level of dependence on these resources and lack of alternative sources that are not more expensive. In fact, this stance is a consequence of Hungary’s long-standing policy towards Russia of closer political relations and energy cooperation since 2010, and the related lack of investment in the diversification of energy sources. Even if there is political will, which the authorities have not shown so far, it will be difficult for Hungary to free itself from Russian gas in the short term. The possibilities of giving up Russian oil are higher, but Hungary is unlikely to support an embargo on it this year.

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