Hungary energy security is an opportunity for foreign suppliers

Hungary energy security is an opportunity for foreign suppliers

The Minister of Foreign Economic Relations and Foreign Affairs of Hungary, Peter Siyarto, called on the EU countries to respect the fact that the national energy balance, security and decisions about energy sources fall within the scope of national competence during the “Russian Energy Week” in Moscow.

Hungary is interested in three projects related to energy security: first of all, the construction of the second Turkish Stream pipeline, through which raw materials can begin to flow to Hungary by 2021. In addition, Budapest is interested in building a Croatian LNG terminal in Krk (Northern Adriatic Sea, located near Rijeka in the Bay of Kvarner and part of Primorje-Gorski Kotar county), as well as in the future production of Romanian Black Sea natural gas.

As for the Paks-2 NPP project, the Hungarian government not only considers it the flagship of Russian-Hungarian cooperation and the country’s largest economic development project for its security, but also an opportunity to restore pragmatic cooperation between East and West. “Rosatom is the main contractor of Paks-2, but subcontractors also include Western European and American suppliers, and according to the contract, 40% of the project must be implemented by Hungarian enterprises,” the minister explained, noting that the current Paks NPP produces half of the electricity in the country, and by 2030 the share of carbon-free sources will increase to 90%.

NβN tip: foreign suppliers should integrate and partner with Bulatom, and participate to the International Nuclear Conference Bulgarian Nuclear Energy – National, Regional And World Energy Security, 5th June – 7th June, 2019 Riviera Holiday Club, Varna.

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Arnaud Lefevre

Arnaud Lefevre is the Chief Executive Officer of Dynatom International. Arnaud is in charge of the international development of the business portfolio.