Hungarian Prime Minister Péter Magyar has stated that cheap Russian gas no longer exists. He made the remarks in an interview with the ATV television channel on 10–11 November 2026. According to him, contrary to the claims of the previous government of Viktor Orbán, gas from Russia currently offers no price advantage: its cost is linked to the exchange quotations of the European TTF hub, while transit fees account for a significant share of the final price.
“Regardless of what the previous government said, there is no longer any cheap Russian gas. All prices are linked to exchange quotations,” Magyar stressed.
The head of government explained that Budapest intends to diversify its supply sources. In his view, one or two directions are not enough: if gas arrives from eight reliable sources, Hungary will be able to negotiate and even bargain, including over transit tariffs. Magyar plans to discuss the issue at the informal EU summit in Dublin on 13 November and to hold separate talks with his Romanian counterpart on gas supplies from Black Sea fields.
The statement contrasts with the long-standing rhetoric of Orbán’s cabinet, which until the April 2026 parliamentary elections described Russian gas as cheap and categorically opposed giving it up. After Péter Magyar’s Tisza party won the election, the new government set a course toward meeting the European Union’s requirements. Economy and Energy Minister István Kapitány and Foreign Minister Anita Orbán had earlier confirmed that Hungary intends to completely phase out Russian gas by autumn 2027 — the deadline set by the EU.
At present, the bulk of Hungary’s gas imports comes from Russia via the TurkStream pipeline and its branches through Bulgaria and Serbia. The new leadership says that, together with the state-owned company MVM, it will build a more balanced energy mix that ensures supply security at the most favourable possible prices.
