Finance Minister Mihaly Varga – Photo: MTI

Finance Minister: Russian energy supplies can’t be replaced overnight

Even those who demand that Hungary cut off its energy supply from Russia must admit that it is impossible to replace Russian oil and gas imports overnight, Finance Minister Mihaly Varga said on Wednesday.
30. March 2022 15:56

Addressing a press conference, Varga said the transition to alternative energy sources was a long process requiring developments.

He said the question of energy security was coloured by the war between Russia and Ukraine. The Hungarian government believes the country’s energy security and the security of citizens must not be put at risk, he said.

Varga said a significant proportion of Hungary’s energy use was linked to buildings, and government has invited bids for funding to carry out energy efficiency upgrades.

It is goals like these will allow Hungary to reduce its greenhouse gas emissions by 40 percent by 2030 compared with 1990 levels and increase the share of renewable energy in the country’s energy mix to 21 percent, the minister said.

Varga announced that the government is supporting energy upgrades at the Mariaremete-Hidegkut Ecumenical Primary School of the Archabbey of Pannonhalma of Budapest with a 959 million forint (EUR 2.6m) grant.

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