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Hungary Oil and Gas Report Q2 2015

Hungary Oil and Gas Report Q2 2015

BMI View: Long known for a good above ground risk profile and meagre below ground prospects, Hungary is slipping in the Risk and Return ratings as it is buffeted by geologic obstacles in the upstream, geopolitical uncertainty in the region and an economy that is reluctant to shake off the aftershocks of the financial crisis. A near reliance on Russia for gas is intensifying with a new deal that gives the country a financial break but pushes it into a tighter Russian orbit.

The main trends and developments for Hungary's oil & gas sector are:

Late in 2014 Hungary was dealing with the unexpected cancellation of the South Stream pipeline by Russia. Facing the end of a 20 year supply agreement with its principal gas supplier and with few options to diversify, Hungary has agreed to a new gas delivery contract with Moscow. The new deal, signed in February 2015 frees Budapest from 'take or pay' contracts and replaces them with an agreement Hungary only need pay for the gas it consumes. But in exchange, Russia will likely increase its power over Hungarian energy, pushing Russian gas penetration of the market from 80% today to 85% within a few years as domestic capacity declines.


BMI Industry View
Table: Headline Forecasts (Hungary 2013-2019)
SWOT
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Table: Proven Oil and Gas Reserves (Hungary 2013-2018)
Table: Proven Oil and Gas Reserves (Hungary 2019-2024)
Upstream Projects
Table: Hungary - Main Upstream Projects
Upstream Production - Oil
Table: Oil Production (Hungary 2013-2018)
Table: Oil Production (Hungary 2019-2024)
Upstream Production - Gas
Table: Gas Production (Hungary 2013-2018)
Table: Gas Production (Hungary 2019-2024)
Refining
Table: Refining Capacity and Refined Products Production (Hungary 2013-2018)
Table: Refining Capacity and Refined Products Production (Hungary 2019-2024)
Refined Fuels Consumption
Table: Refined Products Consumption* (Hungary 2013-2018)
Table: Refined Products Consumption* (Hungary 2019-2024)
Gas Consumption
Table: Gas Consumption (Hungary 2013-2018)
Table: Gas Consumption (Hungary 2019-2024)
Trade - Oil
Table: Crude Oil Net Exports (Hungary 2013-2018)
Table: Crude Oil Net Exports (Hungary 2019-2024)
Table: Refined Fuels Net Exports (Hungary 2013-2018)
Table: Refined Fuels Net Exports (Hungary 2019-2024)
Table: Total Net Oil Exports - Crude and Products (Hungary 2013-2018)
Table: Total Net Oil Exports - Crude and Products (Hungary 2019-2024)
Trade - Gas (Pipeline And LNG)
Table: Gas Net Exports (Hungary 2019-2024)
Industry Risk Reward Ratings
Central And Eastern Europe Oil & Gas Risk/Reward Index
Table: High Risk, Low Reward
Table: Central And Eastern Europe Risk/Reward Index
Upstream: Above-Ground Risks Limit Caspian And Russia
Regional Minnows Breaking Through
Table: CEE Upstream Risk/Reward Index
Downstream: Turkey Offers Bright Spot In Weak Market
Table: CEE Downstream Risk/Reward Index
Hungary - Risk/Reward Index
Hungary Upstream Index - Overview
Hungary Upstream Index - Rewards
Hungary Upstream Index - Risks
Hungary Downstream Index - Overview
Market Overview
Hungary Energy Market Overview
Oil And Gas Infrastructure
Oil Refineries
Table: Refineries In Hungary
Service Stations
Oil Storage Facilities
Oil Pipelines
Gas Storage Facilities
Gas Pipelines
Competitive Landscape
Competitive Landscape Summary
Table: Key Players - Hungary Oil And Gas Sector
Table: Key Upstream Player
Table: Key Downstream Players
Company Profile
Magyar Olaj-és Gázipari Nyrt (MOL)
Shell Hungary
OMV Hungary
Agip Hungaria
Other Summaries
Regional Overview
Central and Eastern Europe Oil&Gas Regional Overview
CEE Oil Production: Russia Dominates, Caspian To Lead Growth
CEE Oil Consumption: Regional Demand Increasing
CEE Refining Capacity: Outlook Remains Weak
CEE Natural Gas Production: Russia, Caspian Gas Firing China
CEE Gas Consumption: Soft Demand Supports Exports
Global Industry Overview
Global Industry Overview - Five Themes For 2015: Oil & Gas
Table: LNG Export Terminals At Pre-FID Stage
Appendix
Central And Eastern Europe - Regional Appendix
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
Table: Net LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
Hungary - Total Hydrocarbons, 10-Year Forecasts
Table: Total Hydrocarbons Production, Consumption and Net Exports (Hungary 2013-2018)
Table: Total Hydrocarbons Production, Consumption and Net Exports (Hungary 2019-2024)
Hungary - Refined Products Breakdown, 10-Year Forecasts
Table: Refined Petroleum Products, Production Breakdown (Hungary 2013-2018)
Table: Refined Petroleum Products, Production Breakdown (Hungary 2019-2024)
Table: Refined Petroleum Products, Consumption Breakdown (Hungary 2013-2018)
Table: Refined Petroleum Products, Consumption Breakdown (Hungary 2019-2024)
Table: Refined Petroleum Products, Net Exports Breakdown (Hungary 2013-2018)
Table: Refined Petroleum Products, Net Exports Breakdown (Hungary 2019-2024)
Glossary
Table: Glossary Of Terms
Methodology
Industry Forecast Methodology
Source
Risk/Reward Index Methodology
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting

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