Budapest, Jan 23 (IANS): Hungary is prepared to provide its full transit capacities to supply Slovakia with gas via the southern TurkStream pipeline, Hungarian Minister of Foreign Affairs and Trade Peter Szijjarto said here on Thursday.
It is Hungary's sovereign right to decide about its energy sources and routes, rejecting any external pressure, Szijjarto said during a press conference in Budapest.
He criticised the recent suspension of gas transit through Ukraine, calling it "unacceptable" and a threat to regional energy security.
Ukraine stopped the transit of Russian natural gas to Europe on January 1, following the expiration of a five-year transportation agreement.
Hungary has increased the annual capacity of its interconnector with Slovakia by 900 million cubic meters to strengthen the neighbouring country's energy security, he added, Xinhua news agency reported.
He also noted that Hungary imported 7.6 billion cubic meters of gas through the TurkStream pipeline last year, leaving an additional 900 million cubic meters of free capacity for further transit.
Earlier this month, in a Facebook post, Szijjarto had attributed the increase in natural gas prices to "artificially imposed reductions in supply" originating from political decisions and sanctions.
The European Union (EU)'s competitiveness has suffered significantly, said Szijjarto, adding that higher natural gas prices than those paid by global competitors are to blame.
Data showed that in 2023, roughly 15 billion cubic meters of Russian gas were transported via Ukraine to Europe, accounting for around 5 per cent of Europe's needs. Following the halt of the Ukraine transit, the TurkStream pipeline under the Black Sea becomes the sole remaining route for transporting Russian gas to Europe.
The halt of the Ukraine transit is also dealing a major blow to Moldova, which imported about two billion cubic meters of gas annually from Russia via Ukraine.
In the more affluent Austria, public sentiments are more optimistic as the Austrian government has repeatedly assured its people that the country has built up adequate gas reserves and made thorough preparations for a switch to alternative suppliers.