Hungary seeks return to pre-20-year energy cooperation with Russia
Quick Look
- Hungary's Foreign Minister Péter Szijjártó stated that Europe should aim to restore beneficial economic cooperation with Russia, similar to 20 years ago.
- Despite acknowledging Russia as a security threat, Hungary prioritizes energy independence through significant projects like the Paks II nuclear plant expansion and gas imports via TurkStream, both involving Russian state companies.
AI-generated summary
Why It Matters
Hungary's Foreign Minister Péter Szijjártó expressed a desire for Europe to return to a state of beneficial economic cooperation with Russia, similar to two decades ago. He acknowledged Russia as a security threat but emphasized Hungary's focus on energy independence, which is heavily reliant on Russian projects like the Paks II nuclear plant expansion and gas imports via the TurkStream pipeline.
In an interview with Le Monde newspaper, he said: "In the long term, it is important for Europe to try to return to the situation that prevailed in our relations 20 years ago, when we could cooperate very beneficially with Russia in the economic field."
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Magyar claimed, however, that Russia "poses a threat to Europe's security" and that Budapest's current goal is "energy independence".
Russia and Hungary are linked by vital major energy projects, including the expansion project of the "Paks-2" nuclear power plant, a huge project to build two new nuclear reactors (Units 5 and 6) at Hungary's only "Paks" plant.
This project is managed by the Russian company "Rosatom" with financing of about 10 billion euros through a Russian government loan.
And the natural gas supply project via "TurkStream", as Hungary imports the largest part of its natural gas needs from the Russian company "Gazprom" through this line (passing through Turkey and the Balkan countries), under long-term agreements strengthened by additional agreements to import flexible quantities.
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These projects, which are opposed by European countries, provide stability for energy supplies in Hungary, which is landlocked and makes it one of the most prominent European countries continuing extensive energy cooperation with Moscow.
The Russian Ambassador to Hungary, Yevgeny Stanislavov, stated last May that initial contacts had taken place between the Russian side and representatives of the new Hungarian government, confirming that the dialogue was "practical and encouraging".
For his part, Kremlin spokesman Dmitry Peskov said that Moscow expects continued contacts with the new leadership in Budapest, noting that Russia is interested in establishing good relations with Hungary, as with all European countries.
Source: Novosti + RT
Open Questions
- What specific 'beneficial economic cooperation' does Hungary envision with Russia?
- How will Hungary navigate potential EU sanctions or pressure regarding its energy ties with Russia?
- What are the specific security concerns Hungary has regarding Russia, and how does it reconcile them with energy cooperation?
- What is the timeline for the Paks II expansion and its impact on Hungary's energy security?
