Andras Domani

This is the second time this has happened. The government seems to think it's best to be careful.

The government established the private natural gas reserve in the summer of 2022. The task was entrusted to the Hungarian Hydrocarbon Supply Association, which was able to purchase the required 7,811,000 MWh, i.e. more than 740 million cubic meters of gas, on credit without an open tender. The state has pledged a cash guarantee of up to 735 billion Hungarian forints.

Three months later, the stock was increased. The stored quantity became 7,880,511 megawatt hours, and the amount of the individual state guarantee for the entire financial obligations related to the loan agreement concluded for the purpose of financing its purchase was increased to a maximum of 2,012,000,000 euros. This would be 770-780 billion Hungarian forints at the current very volatile exchange rate.

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In March 2023, the inventory maintenance period was extended. Without it, a decision on the fate of the private natural gas reserve would have had to be made by March 1, 2023, and in the absence of such a decision, its sale would have had to be decided by March 5. This has been postponed until 2024.

It appeared in Magyar Közlöny magazine on Wednesday evening Government decree It only changes the dates. In other words, the Minister of Energy must study the necessity of continuing to preserve private natural gas reserves by January 31, 2025 at the latest. If a further extension is not decided by February 15, 2025, a decision on the sale of the entire private natural gas inventory and its terms will be made by February 28, 2025.