Slovenia to Build Pipeline to Transport Algerian Gas to Hungary - Prime Minister

MOSCOW (Pakistan Point News / Sputnik - 06th December, 2022) Slovenia plans to build a pipeline to transport Algerian gas to Hungary to help Budapest get rid of dependence on Russian energy supplies, Slovenian Prime Minister Robert Golob said on Tuesday.

"Let's extend that same hand to our eastern neighbours, (including ) Hungarians... Hungary is totally dependent on Russian gas but it's not the only one. Austria is in a similar position. The neighbours (must) help them to solve it � they cannot do it on their own," Golob said in an interview with the Financial Times.

Slovenia signed an agreement in November with Algeria to import gas through existing pipelines via Italy, according to the newspaper. The deal for 300 million cubic meters per year will reportedly allow the country to reduce imports of Russian gas by a third.

Some 85% of Hungary's gas still comes from Russia, although Budapest has established links to import gas from all neighboring countries except Slovenia, the Financial Times said, citing the Hungarian Foreign Ministry.

Western countries have been seeking ways to limit Russia's income from oil and gas since the country launched a military operation in Ukraine on February 24.

In October, the EU introduced the eighth package of sanctions against Moscow, which included a legislative basis for setting a price cap for maritime shipments of Russian oil to third countries. In addition to the price cap for Russian crude oil, the package provides for the introduction of a ceiling for Russian refined products starting from February 5, 2023.

Last week, the EU reached an agreement on setting a price cap on Russian oil at $60 per barrel, which went into effect on Monday. The cap will be reviewed every two months to remain at 5% below International Energy Agency benchmark. The G7 nations and Australia also agreed the same day to set a $60 price ceiling on oil from Russia.

On December 2, Hungarian Prime Minister Viktor Orban said that he would try to achieve an exemption from sanctions of the European Union on Russian gas and atomic energy, as he had managed to do before.