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Hungary Pays Much More for Russian Gas Imports Compared to Other Countries

Although Hungary concluded a long-term contract with Gazprom last year for natural gas at a supposedly favorable price, the country actually pays significantly more for Russian gas imports compared to both other nations and to its previous arrangements, reports G7.hu.

According to the business news site, Lithuania was the only EU member state in February that bought Russian gas at a higher price than Hungary.

Hungary paid an average price of 394 Ft. (US $1.07) per cubic meter for Russian natural gas in February, almost exactly six times what the public paid for the same amount of gas, and over seven times what it was a year earlier.

The exact reasons for this are not completely clear to the site. However, what does seem clear is that despite Foreign Minister Péter Szijjártó’s claim when concluding the contract last September that Hungary had agreed on a favorable price formula with the Russians, nearly every other country gets Russian gas as a cheaper rate. [444]

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