PJSC Gazprom is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was, until 2023, ranked as the largest publicly listed natural gas company in the world and the largest company in Russia by revenue. In the 2020 Forbes Global 2000, Gazprom was ranked as the 32nd largest public company in the world. The Gazprom name is a contraction of the Russian words gazovaya promyshlennost. In January 2022, Gazprom displaced Sberbank from the first place in the list of the largest companies in Russia by market capitalization. In 2022, the company's revenue amounted to 8 trillion rubles. In 2023, the company is delisted from international markets, and continues substantial constriction in its operational results.
Fidesz – Hungarian Civic Alliance is a right-wing populist and national-conservative political party in Hungary led by Viktor Orbán.
Viktor Mihály Orbán is a Hungarian lawyer and politician who has been Prime Minister of Hungary since 2010, previously holding the office from 1998 to 2002. He has led the Fidesz political party since 1993, with a break between 2000 and 2003.
The Druzhba pipeline ; also has been referred to as the Friendship Pipeline and the Comecon Pipeline) is one of the world's longest oil pipelines and one of the largest oil pipeline networks in the world. It began operation in 1964 and remains in operation today. It carries oil some 4,000 kilometres (2,500 mi) from the eastern part of European Russia to points in Ukraine, Belarus, Poland, Hungary, Slovakia, the Czech Republic and Germany. The network also branches out into numerous smaller pipelines to deliver its product throughout Eastern Europe and beyond.
The Russia–Ukraine gas disputes refer to a number of disputes between Ukrainian oil and gas company Naftogaz Ukrayiny and Russian gas supplier Gazprom over natural gas supplies, prices, and debts. These disputes have grown beyond simple business disputes into transnational political issues—involving political leaders from several countries—that threaten natural gas supplies in numerous European countries dependent on natural gas imports from Russian suppliers, which are transported through Ukraine. Russia provides approximately a quarter of the natural gas consumed in the European Union; approximately 80% of those exports travel through pipelines across Ukrainian soil prior to arriving in the EU.
Naftogaz of Ukraine is the largest national oil and gas company of Ukraine. It is a state-owned company subordinated to the Government of Ukraine. The vertical-integrated company carries out a complete cycle of exploration operations and development of deposits, operating and exploratory drilling, extraction, transportation, and refinement of natural gas and crude oil, supply of natural and liquefied gas to consumers.
Russia's energy policy is presented in the government's Energy Strategy document, first approved in 2000, which sets out the government's policy to 2020. The Energy Strategy outlines several key priorities: increased energy efficiency, reducing the impact on the environment, sustainable development, energy development and technological development, as well as improved effectiveness and competitiveness. Russia's greenhouse gas emissions are large because of its energy policy. Russia is rich in natural energy resources and is one of the world's energy superpowers. Russia is the world's leading net energy exporter, and was a major supplier to the European Union until the Russian invasion of Ukraine. Russia has signed and ratified the Kyoto Protocol and Paris Agreement. Numerous scholars posit that Russia uses its energy exports as a foreign policy instrument towards other countries.
The petroleum or oil industry in Russia is one of the largest in the world. Russia has the largest reserves and was the largest exporter of natural gas. It has the sixth largest oil reserves, and is one of the largest producers of oil. It is the fourth largest energy user.
Hungary–Russia relations are the bilateral foreign relations between the two countries, Hungary and Russia. During the Second World War, the Soviet army occupied Hungary, and in 1948 the Soviet Union took full control of the country. It became part of the Warsaw Pact military alliance and the Comecon economic union. Relations between the two countries were strained in 1956 due to the Soviet military intervention in the revolution occurring in Hungary. Hungary expelled its communist government during the Revolutions of 1989, and diplomatic relations with Russia were restored after the breakup of the USSR in 1991.
The 2005–06 Russia–Ukraine gas dispute was between Ukrainian state-controlled oil and gas company Naftogaz Ukrainy and Russian national gas supplier Gazprom. The disagreements concerned natural gas supplies, prices and debts. The conflict started in March 2005, ended in January 2006 and, in addition to the gas companies, involved politicians from both countries.
In 2009, Russian natural gas company Gazprom refused to conclude a supply contract unless Ukrainian gas company Naftogaz paid its accumulating debts for previous gas supplies. The dispute began in the closing weeks of 2008 with a series of failed negotiations, and on January 1, 2009 Russia cut off gas supplies to Ukraine. On January 7 the dispute turned to crisis when all Russian gas flows through Ukraine were halted for 13 days, completely cutting off supplies to Southeastern Europe, most of which depends on Russian gas, and partially to other European countries.
Russia supplies a significant volume of fossil fuels to other European countries. In 2021, it was the largest exporter of oil and natural gas to the European Union, (90%) and 40% of gas consumed in the EU came from Russia.
Energy in Hungary describes energy and electricity production, consumption and import in Hungary. Energy policy of Hungary describes the politics of Hungary related to energy.
International sanctions have been imposed against Russia and Crimea during the Russo-Ukrainian War by a large number of countries, including the United States, Canada, the European Union, and international organisations following the Russian annexation of Crimea, which began in late February 2014. Belarus has also been sanctioned for its cooperation with and assistance to Russian armed forces. The sanctions were imposed against individuals, businesses, and officials from Russia and Ukraine. Russia responded with sanctions against several countries, including a total ban on food imports from Australia, Canada, Norway, Japan, the United States, the EU and the United Kingdom.
TurkStream is a natural gas pipeline running from Russia to Turkey. It starts from Russkaya compressor station near Anapa in Russia's Krasnodar Region, crossing the Black Sea to the receiving terminal at Kıyıköy. Some gas flows onwards to the European Union.
Nord Stream 2 is a 1,234-kilometre-long (767 mi) natural gas pipeline from Russia to Germany running through the Baltic Sea, financed by Gazprom and several European energy companies. Feasibility studies began in 2011 to expand the Nord Stream 1 line and double annual capacity to 110 billion cubic metres, with construction beginning in 2018. It was completed in September 2021, but has not yet entered service. Planning and construction of the pipeline were mired in political controversy over fears that Russia would use it, one of 23 pipelines between Europe and Russia, for geopolitical advantage with Europe and Ukraine.
A global energy crisis began in the aftermath of the COVID-19 pandemic in 2021, with much of the globe facing shortages and increased prices in oil, gas and electricity markets. The crisis was caused by a variety of economic factors, including the rapid post-pandemic economic rebound that outpaced energy supply, and escalated into a widespread global energy crisis following the Russian invasion of Ukraine. The price of natural gas reached record highs, and as a result, so did electricity in some markets. Oil prices hit their highest level since 2008.
The Russia–EU gas dispute flared up in March 2022 following the invasion of Ukraine on 24 February 2022. Russia and the major EU countries clashed over the issue of payment for natural gas pipelined to Europe by Russia's Gazprom, amidst sanctions on Russia that were expanded in response to Russia's 2022 invasion of Ukraine. In June, Gazprom claimed it was obliged to cut the flow of gas to Germany by more than half, as a result of such sanctions that prevented the Russian company from receiving its turbine component from Canada. On 26 September 2022, three of the four pipes of the Nord Stream 1 and 2 gas pipelines were sabotaged. This resulted in a record release of 115,000 tonnes of methane (CH4) – an equivalent of 15 million tonnes of carbon dioxide (CO2) – and is believed to have made a contribution to global warming.
As part of the sanctions imposed on the Russian Federation as a result of the Russo-Ukrainian War, on 3 December 2022, the European Union (EU) agreed to cap the price of natural gas in order to reduce the volatility created by Russia in the gas market.
In July 2024, Prime Minister of Hungary Viktor Orbán announced undergoing several uncoordinated meetings that he referred to as "peace missions", visiting President of Ukraine Volodymyr Zelenskyy in Kyiv before traveling to Moscow to meet with President of Russia Vladimir Putin, followed with him visiting Beijing to meet with Xi Jinping, then traveling to the United States to attend the 2024 Washington summit and to meet Donald Trump at Mar-a-Lago. The meetings notably took place amidst heightened tensions and ongoing conflict in Ukraine following Russia's invasion in 2022, with China increasing diplomatic ties to Russia in the midst of economic sanctions by the European Union and the United States.
