Hungary

Power Markets

Hungary's federal government signs handle Belarus to assist build atomic power plant

Hungary's federal government signed an accord with Belarus to assist build Hungary's second nuclear plant, Hungarian Foreign Minister Peter Szijjarto said in a. statement in Minsk on Wednesday. Hungary's PAK 2 reactor has actually been under building and construction by. Russia's Rosatom considering that 2014. The Russian business is building 2. reactors with a capacity of 1.2 gigawatts each at PAKS 2 in. main Hungary. Of terrific value is the agreement signed here today. on nuclear energy cooperation, which enables us to utilize the. experiences Belarus got here while constructing reactors with. a comparable innovation, Szijjarto said, without offering even...

Renewable Energy Equipment

Veolia consents to buy Hungarian gas-fired power plant from Uniper

French utility Veolia has consented to purchase a. 430-megawatt, gas-fired power plant in Hungary from Uniper. , the companies said, marking the German group's latest. asset disposal to satisfy EU conditions enforced as part of its. bailout in 2022. The gas-fired, combined-cycle power plant is in Gonyu,. north-west Hungary, and was commissioned in 2011. No financial details were disclosed for the offer, which. marks the 3rd sale from a disposal list Uniper got from Brussels in return for approving. Berlin's 13.5 billion euro ($ 14.5 billion) rescue of the firm. during Europe's energy crisis. Under the requirements, Uniper must sell...

Power Markets

Sweden set to become NATO's 32nd member as PM gos to Washington

Sweden is expected to officially sign up with NATO in Washington on Thursday, two years after Russia's intrusion of Ukraine forced a total reassess of its nationwide security policy and the realisation the alliance provided the best assurance of security. Swedish Prime Minister Ulf Kristersson is in Washington to hand over the final documents, with the White House saying in a statement ahead of President Joe Biden's State of the Union Address that Sweden would join on Thursday. Having Sweden as a NATO Ally will make the United States and our Allies even safer, the declaration said. The Swedish government...

Nuclear Power

Sweden signs up with NATO as war in Ukraine triggers security reconsider

Sweden signed up with NATO in Washington on Thursday, two years after Russia's. invasion of Ukraine forced it to rethink its nationwide security. policy and conclude that assistance for the alliance was the. Scandinavian nation's finest guarantee of security. Swedish Prime Minister Ulf Kristersson turned over the final. documents to the U.S. government on Thursday, the last action. in a dragged out process to secure the backing of all members to. sign up with the military alliance. Advantages concern those who wait, U.S. Secretary of. State Antony Blinken said as he got Sweden's accession. documents from Kristersson. Blinken said everything...

Oil & Gas

Hungary to purchase 5% stake in Azerbaijan's Shah Deniz gas field

Hungarian stateowned energy corporation MVM will buy a 5% stake in Azerbaijan's Shah Deniz gas field, it said in a statement on Wednesday. Hungary, a landlocked nation, has been importing natural gas primarily from Russia even after its intrusion of Ukraine in 2022, which led many European nations to look for option sources of energy materials. Obtaining a stake in this gas field offers us (Hungary) a. defense from big energy cost swings, Hungarian Foreign. Minister Peter Szijjarto stated previously in the day in Baku during. a joint press conference with his Azeri counterpart, revealing. the acquisition. As Azerbaijan is...

Natural Gas

Proposed EU ban on Russian LNG transhipments present no issues for Asia, EU commissioner says

Proposed new European sanctions targeting transhipments of Russian melted natural gas (LNG) are not likely to effect Asian purchasers, Kadri Simson, European Commissioner for Energy, told reporters in Tokyo on Monday. As part of a 14th package of sanctions on Russia over its war on Ukraine, the European Union proposed to ban re-loading services by EU facilities for trans-shipment of Russian LNG to third nations. This does not impact imports into the EU. The EU would likewise ban new investments and the provisions of goods, innovation and services by EU operators for the completion of LNG jobs under building such...

Oil & Gas

Hungary to tweak price formula imposed on fuel traders, PM Orban says

Hungary's federal government has chosen to fine-tune a formula imposed on fuel traders to suppress costs, omitting some central European countries from the basis of contrast, Prime Minister Viktor Orban informed public radio on Friday. Orban's government said recently it was providing fuel traders two weeks to adjust their rates to the central European average, as part of a wider federal government price-setting intervention following last year's inflation rise. Nevertheless, in an evident action back from the pressure used on fuel traders, Orban stated the government was now focused on bringing prices in line with those in neighbouring nations, omitting...