Foreign Minister: Hungary against Russian gas price cap

WASHINGTON, Oct 26 (PRIME) -- Hungary is against a possible price cap for Russian natural gas as it could reduce gas supplies to Europe and spur up prices, Hungarian Foreign Minister Peter Szijjarto told PRIME on Wednesday.

“Speaking of gas, we have made it very clear that we don’t support introduction of the maximum gas price as we think that this step bears the risks of reduction of gas supplies to the European market,” he said.

This reduction will inevitably cause the gas prices to rise, and Hungary wants long-term gas contracts to be excluded from the gas price if the measure is introduced, he said.

As of Tuesday, the E.U. officials had not put forward any clear suggestions on the matter, and the countries are yet to agree here. It is unclear when the European Commission would make a suggestion, Szijjarto said.

End