Russia boosts gas supply to EU nation

Russian energy giant Gazprom has increased gas supplies to Hungary via the TurkStream pipeline, a Hungarian official confirmed on Saturday. 

According to Foreign Ministry State Secretary Tamas Menczer, the Russian company stepped up flows to Hungary by 2.6 million cubic meters per day starting Friday and for the rest of August. The extra supplies are being delivered by the TurkStream pipeline that brings gas to Hungary via Serbia. 

“The Hungarian government had previously decided to purchase some 700 million cubic meters of natural gas in addition to the already contracted volumes,” the official posted in his Facebook account. 

Menczer added that the nation is currently in talks with Moscow about additional volumes for September. 

Hungary, which is about 85% dependent on Russian gas, is trying to bolster its reserves before the cold season. Budapest has been strongly opposing calls to introduce EU sanctions on Russian gas imports. The country’s prime minister, Viktor Orban, has also managed to secure an exemption from the bloc’s sanctions on Russian crude oil imports. 

Hungary along with Poland refused to support the EU’s rationing plan aimed at cutting gas consumption by 15%.   

Under a deal signed with Gazprom last year, Hungary receives 3.5 billion cubic meters of gas per year via Bulgaria and Serbia, and a further 1 billion cubic meters via a pipeline from Austria.

For more stories on economy & finance visit RT's business section