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GAS RESERVES ABOVE EU EXPECTATIONS

 

Hungary’s gas reserves stand currently at 5 billion cubic metres, or 78% of full capacity, comfortably above the European Union’s requirement to fill reserves to 65% by July 1, the energy ministry said on Monday. Hungary achieved the 65% threshold by May, it said in a statement. The reserves are holding 50% of domestic consumption, the third highest rate in Europe, and double the EU average, it said. Under EU regulations, gas reserves must be filled up to 90 % of full capacity by November 1. Last year, Hungary fulfilled that requirement by the end of summer, the statement said. Partly thanks to significantly falling consumption, gas reserves had not dropped below two thirds of capacity in the past year, the ministry said. The security of supply is therefore “guaranteed with great certainty”, it added. The government’s measures have ensured that Hungarian families are provided the cheapest gas and electricity in Europe. The home refurbishment programme launched on Monday also offers interest-free loans and non-refundable support to home energy upgrades, it said. The 108 billion forint (EUR 273.2m) EU funding is expected to ensure developments on some 20,000 buildings, it said.