Hungary’s strategic fuel reserve has doubled since the low point in March, so Hungary's fuel supply is secure, but reserves need to be stockpiled, the Ministry of Economy and Energy has announced.
The strategic fuel reserve ensures that the country can continue to function and that families and the economy are supplied in the event of a prolonged disruption to fuel imports. It is intended to manage extraordinary situations and can help prevent supply disruptions. The current reserve, which covers 87 days, is now close to the 90-day level recommended by international standards. This level has been replenished since the end of March from a low of 44 days set by the previous government, the ministry noted.
For the government, the energy security of Hungarian consumers is the first priority and due to increasing international risks, preserving strategic reserves is a priority goal, it added.
The statement also pointed out that, due to armed conflicts, only a fraction of the usual volume is arriving from two regions that account for nearly half of the world’s total oil exports.
However, no supply problems have arisen so far in either Hungary or the European Union; the security of supply in Hungary has improved significantly following the change in government, the Ministry of Economy and Energy emphasized.
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