Hungary looks to Romania to help diversify its energy sources
BUDAPEST, March 10 (Reuters) - Hungary is looking to expand its cooperation with Romania in the gas sector to diversify its energy sources and their relevant companies are already negotiating an agreement, Hungarian Foreign Minister Peter Szijjarto said on Monday.
Szijjarto said that Hungary was keen to cooperate with Romania on energy issues as Romania was set to become a net exporter of natural gas in the coming period as a new offshore gas field is set to start production soon.
Drilling at the Neptun Deep gas field in the Black Sea, one of the European Union's most significant gas deposits which will double Romania's production and potentially turn it into a net exporter, could start in weeks.
"This new gas field will be the only fresh gas source in the region that can contribute to energy diversification," Szijjarto said after singing an energy solidarity agreement with Sebastian Ioan Burduja, energy minister of Romania.
"Our companies are already engaged in the necessary commercial negotiations, and we hope they will reach an agreement that represents progress for both countries," the Hungarian foreign minister said.
Szijjarto also said that last year the gas interconnector between the two countries was used to trade a total of 1.8 billion cubic metres. The total capacity of the interconnector is 2.6 billion cubic meters per year.
Around two-thirds of Hungary's gas imports come from Russia, but pressure is mounting for the country along with some of its neighbours to diversify more quickly away from Russian energy, following Moscow's 2022 invasion of Ukraine.
Last year Hungary imported some 7.5 billion cubic metres of Russian gas via the Turkstream pipeline and additional amounts via Romania, Prime Minister Viktor Orban said in December. It also has domestic production of around 1-1.5 billion cubic metres of gas.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leader Live
an hour ago
- Leader Live
Government plan to build munitions factories to ‘better deter our adversaries'
The Government has pledged £1.5 billion as part of the strategic defence review (SDR) to set up at least six factories, and will support the procurement of up to 7,000 UK-built long-range weapons. The announcement responds to the SDR's call for an 'always on' munitions production capacity that could be scaled up quickly. Mr Healey said: 'The hard-fought lessons from (Russian president Vladimir) Putin's illegal invasion of Ukraine show a military is only as strong as the industry that stands behind them. 'We are strengthening the UK's industrial base to better deter our adversaries and make the UK secure at home and strong abroad. 'We will embrace the strategic defence review, making defence an engine for economic growth and boosting skilled jobs in every nation and region as part of our Government's plan for change.' According to the Ministry of Defence, the new funding will see UK munitions spend hit £6 billion during this Parliament. It will support around 1,800 jobs throughout the country. Chancellor Rachel Reeves said: 'A strong economy needs a strong national defence, and investing in weaponry and munitions and backing nearly 2,000 jobs across Britain in doing so is proof the two go hand-in-hand. 'We are delivering both security for working people in an uncertain world and good jobs, putting more money in people's pockets as part of our plan for change.' Prime Minister Sir Keir Starmer launched the SDR last year, with its recommendations due to be published in the coming days. In addition to its call for an 'always on' munitions production capacity, the Ministry of Defence will be urged to lay the industrial foundations for an uplift in munitions stockpiles to meet the demand of 'high-tempo' warfare. Also as part of its response to the SDR, the Government has unveiled more than £1.5 billion in extra funding for military homes. The cash will be spent on urgent repairs such as fixing boilers and roofs, and other issues including tackling damp. 'Our forces make extraordinary sacrifices to keep us safe and to serve this country and yet for years, we've forced their families to live in substandard homes,' Mr Healy said on a visit to military accommodation in Cambridgeshire. The Conservatives criticised the investment in munitions factories as too slow. Shadow defence secretary James Cartlidge said: 'It's a bit rich of Labour to talk about 'always on' munitions production when procurement has been largely switched off for the past year. 'Rachel Reeves has deliberately used the SDR to put an effective freeze on new orders for the kit our military needs. 'Of course, we welcome investment in new munitions factories, but we don't know when they will be ready, only that these orders should have been placed months ago. 'Ultimately, we need to see greater ambition for the pace and scale of rearmament our armed forces require, given the threats we face and the need to replace inventory gifted to Ukraine. 'That means 3% of GDP by the end of this parliament, and Labour properly prioritising defence spending – instead of seeking to outspend Reform on welfare.'
Leader Live
an hour ago
- Leader Live
Bulgarian nationalists protest over government plans to adopt euro currency
The protesters, led by civic groups and nationalist parties, sang patriotic songs and shouted slogans like 'Freedom for the Bulgarian lev' and 'The future belongs to sovereign states'. The anti-euro rally came four days before the Balkan country is expected to receive the green light from Brussels to enter the eurozone. Demonstrators in Sofia carried flags of the pro-Russian Vazrazhdane party and a huge banner that read 'The battle for the Bulgarian lev is the last battle for Bulgaria'. An increased police presence kept the protest peaceful. Bulgaria joined the European Union in 2007 and remains one of its poorest members, plagued by years of instability which has fuelled Euroscepticism among its 6.4 million citizens. Disinformation campaigns from home and abroad have added fears of economic changes that could bring more poverty. President Rumen Radev encouraged the anti-euro voices by proposing earlier this month a referendum on the currency, citing public concerns over inflation and purchasing power. The proposal was turned down by the pro-European majority in parliament, which accused him of acting in favour of Moscow with his last-minute attempt to sabotage the euro adoption, which is aimed at deepening European integration amid growing geopolitical tensions.
North Wales Chronicle
an hour ago
- North Wales Chronicle
Government plan to build munitions factories to ‘better deter our adversaries'
The Government has pledged £1.5 billion as part of the strategic defence review (SDR) to set up at least six factories, and will support the procurement of up to 7,000 UK-built long-range weapons. The announcement responds to the SDR's call for an 'always on' munitions production capacity that could be scaled up quickly. Mr Healey said: 'The hard-fought lessons from (Russian president Vladimir) Putin's illegal invasion of Ukraine show a military is only as strong as the industry that stands behind them. 'We are strengthening the UK's industrial base to better deter our adversaries and make the UK secure at home and strong abroad. 'We will embrace the strategic defence review, making defence an engine for economic growth and boosting skilled jobs in every nation and region as part of our Government's plan for change.' According to the Ministry of Defence, the new funding will see UK munitions spend hit £6 billion during this Parliament. It will support around 1,800 jobs throughout the country. Chancellor Rachel Reeves said: 'A strong economy needs a strong national defence, and investing in weaponry and munitions and backing nearly 2,000 jobs across Britain in doing so is proof the two go hand-in-hand. 'We are delivering both security for working people in an uncertain world and good jobs, putting more money in people's pockets as part of our plan for change.' Prime Minister Sir Keir Starmer launched the SDR last year, with its recommendations due to be published in the coming days. In addition to its call for an 'always on' munitions production capacity, the Ministry of Defence will be urged to lay the industrial foundations for an uplift in munitions stockpiles to meet the demand of 'high-tempo' warfare. Also as part of its response to the SDR, the Government has unveiled more than £1.5 billion in extra funding for military homes. The cash will be spent on urgent repairs such as fixing boilers and roofs, and other issues including tackling damp. 'Our forces make extraordinary sacrifices to keep us safe and to serve this country and yet for years, we've forced their families to live in substandard homes,' Mr Healy said on a visit to military accommodation in Cambridgeshire. The Conservatives criticised the investment in munitions factories as too slow. Shadow defence secretary James Cartlidge said: 'It's a bit rich of Labour to talk about 'always on' munitions production when procurement has been largely switched off for the past year. 'Rachel Reeves has deliberately used the SDR to put an effective freeze on new orders for the kit our military needs. 'Of course, we welcome investment in new munitions factories, but we don't know when they will be ready, only that these orders should have been placed months ago. 'Ultimately, we need to see greater ambition for the pace and scale of rearmament our armed forces require, given the threats we face and the need to replace inventory gifted to Ukraine. 'That means 3% of GDP by the end of this parliament, and Labour properly prioritising defence spending – instead of seeking to outspend Reform on welfare.'
