Hungary Oil & Gas Q1 2020
Despite a significant oil discovery in 2019, Hungary will remain a small producer of hydrocarbons across our forecastperiod to 2028. A weak upstream position will make the country increasingly dependent on oil and gas imports. An ongoingdevelopment of gas linkages with the neighbouring countries will reduce Hungary's dependence on gas imports from Russia, whichremains by far the largest supplier. The country's efficient and modern downstream sector largely meets the domestic demand, butrefined fuels imports are set to rise on the back of increasing domestic consumption in the long-term.
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