Russia sold gas to Hungary at Ft 117 per cubic metre compared to a going rate of Ft 107 on the TTF in April.

Under the gas agreement between the two countries, prices are linked to the TTF with a two-month lag, the newspaper adds.

Had Hungary paid the TTF price, it would have saved Ft 6 billion in June alone and Ft 12 billion this year.

Based on this methodology, Népszava adds, the state has paid Ft 246 billion in excess of market prices since October 2021, when the long-term agreement entered into force.

Hungary imported more gas from Russia via pipeline than any other EU member state in June, totalling 651 million cubic metres, a 44% rise, year-on-year, or one-third of the total EU imports of 2 billion cubic metres.

During the January-June period, Hungary received a total of 3.8 billion cubic metres of Russian gas, 51% more than last year.

The surge in imports came as domestic demand contracted during the period, which raises the possibility of reimports, Népszava adds.

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