Russia to build two nuclear reactors in Hungary

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Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
I thought EU was supposed to have a united front...lol? Seems like Hungary looking after its own interests.


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Russian nuclear power giant Rosatom will begin constructing two new nuclear reactors in Hungary in the coming weeks, Hungary's foreign minister said.

The deal, reached between Russia and the EU state in 2014, aims to expand the existing Paks nuclear plant.

Russia's nuclear industry has not been subjected to EU sanctions over its bloody invasion of Ukraine.

Moves to isolate and sanction its oil and gas exports have not been unconditionally supported by Hungary.

The Paks site currently generates 40% of Hungary's electricity supply.

"Let the construction begin!" said Foreign Minister Peter Szijjarto in a Facebook post.

With the additional two reactors, the nuclear power station - currently made up of four Soviet-built reactors - will see its capacity more than double.

"This is a big step, an important milestone," Mr Szijjarto said in a Facebook post quoted by AFP news agency.

"In this manner we will ensure Hungary's energy security in the long term and protect Hungarians from wild swings in energy prices."

He added that the nuclear reactors could be ready for service by 2030.

The controversial €12.5bn (£10.6bn; $12.4bn) project is largely financed by Russia.

In the wake of the war in Ukraine, many EU states have been trying to lessen their dependence on Russian supplies of energy.

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Forester

Silver Member
Interesting. (Frankly – not a big suprise for me.) And I consider natural to look after own interests :)
 

TheCryptoAnt

Active Member
Live view of the European Commission

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JimBeam

Entrepreneur
Russia already built some of the nuclear power plants in Hungary so for them that's just an "upgrade".
The deal was signed 8 years ago and it will be finished (if everything goes by plan) in another 8 years!
So that's like a 15 year project.

This is probably the bigger issue right now then the power plants:
But they are so dependable on Russian gas (80%) so there aren't any possible alternatives except freezing to death during the winter...
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Russia already built some of the nuclear power plants in Hungary so for them that's just an "upgrade".
The deal was signed 8 years ago and it will be finished (if everything goes by plan) in another 8 years!
So that's like a 15 year project.

This is probably the bigger issue right now then the power plants:
But they are so dependable on Russian gas (80%) so there aren't any possible alternatives except freezing to death during the winter...

Hungary is smart to look after its own citizens interests first. Let the other gas buyers work out how a tight gas market functions. Others like Japan etc have done same already.

Japan's biggest city gas supplier signs a deal with Russian firm for long-term natural gas contract​

 
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