The TurkStream pipeline, which transports Russian gas to Türkiye through the Black Sea, could assist Europe in managing the anticipated shortfall in gas supplies that are typically routed via Ukraine, Hungarian Foreign Minister Peter Szijjarto said Thursday.
A five-year deal between Kyiv and Moscow on Russian gas transit via Ukraine to Europe will expire on Dec. 31. An extension is seen as unlikely, given the military conflict between the two countries.
Szijjarto said the loss of Russian gas routed via Ukraine will not hurt Hungary as the country receives Russian gas via the TurkStream pipeline.
"This alternative route may help not only Hungary but other countries of Central Europe if they face a serious situation in case there is no transit via Ukraine," he told the St. Petersburg International Gas Forum.
Last month, President Vladimir Putin said Russia aimed to keep pumping gas via Ukraine to the European Union but added that Moscow could not force Kyiv to keep the transit agreement.
He added that alternative routes for transit would then be evaluated, including using the TurkStream pipeline.
Hungary, in contrast to most European Union countries, seeks to maintain close political and business ties with Russia.
Ukraine has said it will not renew its deal with Russia, and Moscow has said the decision lies with Ukraine and Europe.
Russia shipped about 15 billion cubic meters (bcm) of gas via Ukraine in 2023. That was equivalent to just 8% of peak Russian gas flows to Europe via various routes in 2018-2019.
Russian energy giant Gazprom said later Thursday that it had signed a memorandum of understanding with Hungary on a possible increase in supplies of Russian gas, at a meeting attended by Gazprom chief Alexei Miller and Szijjarto. No details were revealed.
Szijjarto said Hungary is satisfied with its cooperation with Gazprom and that it has no attractive alternatives.
"This year we are receiving 6.7 billion cubic meters of gas altogether from Gazprom in Hungary. ... This will make TurkStream totally utilized in its full capacity," Szijjarto said.
Türkiye, a NATO member, has maintained relations with both Russia and Ukraine. Ankara believes it can leverage its existing and new trade relations to become a gas hub.
Moscow currently supplies gas to Türkiye via the Blue Stream and TurkStream pipelines across the Black Sea.
Gas via TurkStream also goes for further exports to southern and eastern Europe, including Hungary, Greece, Bosnia-Herzegovina, Romania and Serbia.
It has an annual capacity of 31.5 bcm and consists of two 930-kilometer (578-mile) offshore lines and two separate onshore lines that are 142 and 70 kilometers long. The first line with a capacity of 15.75 bcm is designated for supplies to Türkiye’s domestic customers. The downlink to Türkiye carries gas to the European countries.