Hungary eyes reducing dependence on Russian gas

Hungary intends to reduce dependence on gas imports from Russia and plans to invest 16 billion euros in the development of the national energy sector until 2030, Minister for Innovation and Technology of Hungary Laszlo Palkovicssaid at a conference on economics, climate and sustainable development in Budapest, reported from TASS.

He noted that natural gas meets 35-40% of ultimate energy consumption in Hungary. Events in Ukraine have brought to the fore the issues of energy security and security of supply.

"Hungary’s goal is to reduce dependence on Russian energy imports and ultimately achieve energy independence,” the minister added.

Palkovics said that Hungary will seek to reduce the share of natural gas in the country’s energy balance, more actively use alternative energy sources, as well as meet the growing demand for electricity.

In addition, the operation of the Paks Nuclear Power Plant will continue, where by the end of the decade it is planned to build two new power units with the help of Rosatom.

The government expects that the set of measures being developed will help reduce gas consumption in Hungary by 2030 and at the same time expand the country’s supply with electricity. The minister noted that the plan includes an investment of 16 billion euros, most of which will go to the transformation of the Hungarian electricity system.

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