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Hungary will continue negotiations with Russia for additional gas supplies and expects to reach a deal with Russian state company Gazprom to increase supplies from September.

This was stated by Hungarian Foreign Minister Peter Szijjártó, quoted by Reuters.

Last month he met his Russian counterpart Sergei Lavrov in Moscow, where it emerged he was negotiating an additional 700 million cubic meters of gas to the already existing long-term supply agreement with Russia.

This month, Gazprom began to increase gas flows to Hungary, in addition to the previously agreed on Turkish Stream gas pipeline.

"Whether we like it or not, we will continue the talks with the Russians to increase gas supplies. There is a proposal to increase gas supplies, we will clarify it with Gazprom in the next few days and sign an agreement according to which we will be able to we are getting increased daily supplies," Szijjártó said at a business meeting.

He did not elaborate on the volumes or prices discussed. 

"Gazprom" may reduce gas production to a historic minimum, oil production will also fall

As of August 1, Hungary's gas reserves stood at 3.25 billion cubic meters of gas - just over half of the country's total storage capacity, according to data from the national energy regulator.

Under an agreement signed last year, before the start of the war in neighboring Ukraine, Hungary receives 3.5 billion cubic meters of gas a year via Bulgaria and Serbia via TurkStream, under its long-term agreement with Russia, as well as another 1 billion cubic meters by gas pipeline from Austria.

The agreement with Gazprom is for a period of 15 years.

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Gazprom

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