Thread by @Frank_Stones

🇭🇺Hungary, probably the closest partner of🇷🇺Russia in🇪🇺EU is seeking to diversify its gas imports away from Moscow.
In doing so🇭🇺has reached out🇶🇦Qatar, world's largest LNG producer, amidst #WorldcupQatar2022 and the worst🇪🇺EU Parliament corruption scandal.
🚨That's terrific!
🧵

Yesterday🇭🇺foreign minister Szijiarto has announced that🇭🇺has agreed with🇶🇦to initiate talks between state-owned companies (🇭🇺MVM🇶🇦QatarEnergy) about importing LNG.
"It is in Hungary's interest to draw in new sources into its gas supply," but the deal should "make business sense"

🇭🇺is almost completely reliant on Oil&Gas imports from🇷🇺
In Sept-21,🇭🇺🇷🇺signed a long-term agreement for 4.5 bcm/y. Gas flows from🇷🇺across🇹🇷Turkey🇧🇬Bulgaria &🇷🇸Serbia before reaching🇭🇺.
Desperate for gas through this winter,🇭🇺agreed to buy additional 5.8mcm/d from🇷🇺this summer.

🇭🇺is an important🇪🇺consumer of gas, slightly less than 11 bcm/y in 2021, and heavily subsidised domestic consumption.
Storages are an important element of🇭🇺gas security. Now levels in🇭🇺are at 77.5%, only🇱🇻Latvia in🇪🇺has lower levels of gas reserves.
hungarytoday.hu/hungarian-hous…

But being a landlocked country🇭🇺cannot directly import LNG.
To do so, it needs to rely on gas interconnections within the🇪🇺& the neighbour🇭🇷Croatia.
🇭🇷Krk terminal has 2.9 bcm/y capacity, but🇭🇷wants to double it to 6.1bcm/ by 2026
(Map is from 2019 but shows🇭🇺🇭🇷interconnectivity)

Lately, the option of gas exports from🇩🇿Algeria flowing across🇹🇳Tunisia🇮🇹Italy &🇸🇮Slovenia to reach🇭🇺was discussed
Well, this is a paradox for one of the most nationalistic government in🇪🇺fiercely opposing sanctions vs🇷🇺for the sake of national interests.
dw.com/en/hungary-wha…

The bilateral negotiations between🇭🇺&🇶🇦could not come at a worse time.
A corruption scandal is shaking the credibility of the🇪🇺Parliament, with bags of💶possible influence peddling involving🇶🇦&🇲🇦Morocco
Reportedly, dozens of MEPs are under investigation
politico.eu/article/eu-lea…

🇪🇺elections come in 2024 and there is a fear that the🇶🇦scandal could discredit the institution even more,🔥inflaming anti🇪🇺sentiment & leading to a political disgregation of🇪🇺unity amid the worst international confrontation in decades, the raging energy crisis & surging inflation

This scandal is also an unforeseen obstacle for🇪🇺attempts to phase out🇷🇺gas imports.
🇶🇦wants to expand its LNG production and exports from 77 mtpa to 127 mtpa by 2026.
🇺🇸🇬🇧Western companies, including🇫🇷TotalEnergies &🇮🇹ENI are involved in the🇶🇦expansion.
Recently,🇶🇦🇺🇸companies

agreed to supply🇩🇪with LNG from🇶🇦for 15 years.
With the🇪🇺corruption scandal and police investigations going forward, other possible arrests, what could happen to the🇪🇺🇶🇦cooperation?
🇭🇺could play again its anti🇪🇺role and proceed with the negotiations with🇶🇦over LNG supplies...

however,🇭🇺needs🇪🇺gas network integration and interconnections with🇭🇷&🇸🇮to diversify its gas imports away from🇷🇺
Gas trade is a prominent affair in international politics and it should be studied for its political implications.
Meanwhile, someone at the Kremlin is smirking