Latest news with #TurkStream
Business Recorder
20 hours ago
- Business
- Business Recorder
Hungary says it supplies Ukraine with Russian gas
BAKU: Hungary is supplying Russian natural gas to Ukraine, a Hungarian official told Reuters on Wednesday in comments which indicate that Moscow is struggling to control exports of its fuel to its enemy. Ukraine has faced a serious gas shortage since Russian missile strikes this year significantly reduced domestic gas production. The country imports gas via Slovakia and Hungary after ending direct gas imports from Russia in 2015 following Moscow's annexation of Crimea and a pro-Russia rebellion in the east of the country, which Russian troops now control. Slovakia said earlier this year it was exporting Russian gas to its neighbour but Hungary had not said it was doing the same until now. 'We are importing from Serbia, from the TurkStream, and we are exporting that to Ukraine... We are supplying Ukraine with Russian gas.' Mark Alfoldy-Boruss, Deputy State Secretary at Hungary's Ministry for Energy told Reuters on the sidelines of a conference in Baku. Russian energy giant Gazprom did not reply to a request for comment. Gazprom had included a clause prohibiting the re-export of its gas in contracts with European companies but dropped it as a result of a European Commission anti-monopoly investigation initiated in 2012. The Kyiv government has said Ukraine needs to import at least 4 billion cubic metres (bcm) of gas for the new 2025/26 heating season while analysts and former officials estimated the required imports at about 6.3 bcm.
See - Sada Elbalad
3 days ago
- Politics
- See - Sada Elbalad
Russian FM, Hungarian counterpart discuss energy cooperation over phone
Basant Ahmed Russian Foreign Minister Sergey Lavrov discussed regional and international issues and areas of bilateral cooperation, particularly in the energy sector, during a phone call with his Hungarian counterpart, Péter Szijjártó. The Russian Foreign Ministry said in a statement reported by the TASS news agency that during the call, the two sides expressed their high appreciation for the existing interaction between the two countries in the energy sector and exchanged views on a number of important regional and international issues. It is noteworthy that Szijjarto had previously announced that Hungary had already received 2.3 billion cubic meters of Russian gas via the TurkStream gas pipeline. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer News China Launches Largest Ever Aircraft Carrier Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks
Reuters
4 days ago
- Business
- Reuters
Russian pipeline gas exports to Europe rose 10% m/m in May, data shows
MOSCOW, June 2 (Reuters) - Russian energy giant Gazprom's ( opens new tab average daily natural gas supplies to Europe via the TurkStream undersea pipeline increased by 10.3% in May from a month earlier, Reuters calculations showed on Monday. Turkey is the only transit route left for Russian gas to Europe after Ukraine chose not to extend a five-year transit deal with Moscow when it expired on January 1. Calculations based on data from European gas transmission group Entsog showed that Russian gas exports via the TurkStream pipeline rose to 46.0 million cubic metres (mcm) per day in May from 41.7 mcm per day in April. That was down from 47.2 mcm in May 2024. Total Russian gas supplies to Europe via TurkStream stood at around 7.2 billion cubic metres (bcm) in the first five months of this year, compared to 6.6 bcm during the same period a year earlier, according to Reuters calculations. The company, which has not published its own monthly statistics since the start of 2023, did not respond to a request for comment. Russia supplied about 63.8 bcm of gas to Europe by various routes in 2022, Gazprom data and Reuters calculations show. That plummeted by 55.6% to 28.3 bcm in 2024, but increased to around 32 bcm in 2024. At their peak in 2018-2019, annual gas flows to Europe reached between 175 bcm and 180 bcm.
Wall Street Journal
28-05-2025
- Business
- Wall Street Journal
Elliott Eyes Bet on Pipeline Carrying Russian Gas
Elliott Investment Management is in talks to buy a stake in a package of infrastructure assets, including a pipeline that carries Russian natural gas to Europe—a deal that could form a template for reviving Moscow's once-mighty energy business by involving American investors. The U.S. hedge fund, headed by billionaire founder Paul Singer, is considering a stake in the Bulgarian extension of the TurkStream pipeline, along with access to a network of data centers, data cables and other infrastructure assets, according to people familiar with the matter.
Budapest Times
23-05-2025
- Politics
- Budapest Times
PM Orbán: Turkic countries play a key role in Hungary's energy supply
Prime Minister Viktor Orbán said on Facebook on Wednesday that Turkic countries play a key role in Hungary's energy supply, adding that if Hungary wanted cheap energy, it needed friends rather than enemies. Speaking in connection with the ongoing informal meeting of the Organization of Turkic States (OTS) in Budapest, PM Orbán noted that Ukraine had shut down the pipeline system linking Russia and Hungary. This would have put Hungary in 'an impossible and even tragic situation' if it had not established close cooperation with the Turkic states in the previous years, he added. 'You may recall — President Erdogan certainly does — the intense debates in the west about whether the TurkStream pipeline should be allowed to be built,' the prime minister said. He said the 'westerners' had done everything they could to prevent the pipeline from being built, 'but we persevered and we built it.' 'If this pipeline system didn't exist today, Hungary wouldn't have gas and it wouldn't have energy,' PM Orbán said.
