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Construction of Nord Stream 2 may lead to higher natural gas prices

Staff writer ▼ | April 11, 2016
The construction of the Nord Stream 2 natural gas pipeline connecting Russia and Germany may result in Hungary having to procure this energy source at a price higher than it does now.
Nord Stream
Energy routes   Hungarian Secretary of State for Energy Affairs:
András Aradszki, Hungarian Secretary of State for Energy Affairs at the Ministry of National Development, said that in Berlin.

In his presentation at the conference entitled “Energy Dialogue” at the Hungarian Embassy in Berlin, the Secretary of State pointed out that the proposed development – which would double the existing Nord Stream pipeline’s capacity – might result in Hungary needing to source natural gas through the Nord Stream 2 pipeline at a higher price and only from the direction of Austria, instead of through Ukraine.

Aradszki emphasised that during the establishment of energy union aimed at creating a common energy market for the European Union, the principle of solidarity would hopefully be applied as well, and German decision makers would have due regard to the vulnerability of the Central and South-East European region.

He underlined that the north-south energy corridor running from Poland to Croatia needs to be completed to establish a “real market”, resulting in the diversification of sources of supply and transport routes.

He pointed out that Hungary has used its best endeavours to develop interoperable natural gas and electricity networks suitable for utilising several sources; however, the interconnectors – i.e. special pipeline networks through which the energy sources can be transported in both directions – are still not in place in Romania and Croatia.