Hungarian oil and gas company MOL announced it will be technically ready to phase out Russian oil imports by the end of 2027 while calling for increased European Union funding.
Speaking to Euronews, MOL Hungary chief executive György Bacsa warned that reducing dependence on Russian crude could drive up energy costs and trigger social unrest and political instability in Hungary and Slovakia. Both countries remain heavily reliant on Russian oil, importing significant volumes through the Soviet-era Druzhba pipeline, while the European Commission reports that Russia's share of EU oil imports has fallen from 27% in 2021 to 2%.
Following a change of government in Budapest, MOL will seek EU funding for energy diversification for the first time, marking a departure from the Viktor Orbán era. A 2025 International Monetary Fund study indicated that a complete cut-off of Russian supplies could increase Hungary's energy spending by about 15% by 2030, and domestic fuel prices have already risen sharply this year.
Bacsa, who also serves as the group's chief strategic officer, stated that restrictions on fossil fuel projects currently prevent MOL from accessing EU funds needed to expand pipeline infrastructure. He argued that Central and Eastern Europe lags behind Western Europe in infrastructure and called for a targeted European programme and resources to connect all gas, electricity, and oil networks.
A European Commission spokesperson did not rule out discussing fossil fuel infrastructure projects, noting that the priority is for member states to have diversified energy policies. MOL's diversification strategy relies partly on the Adria pipeline running from Croatia to Hungary, alongside disputes with Croatia's state-owned pipeline operator JANAF over transport capacity, transit fees, and testing on the Croatian section.
Bacsa noted that MOL has asked the European Commission to mediate a dispute over capacity testing on the Croatian pipeline section. The company is also interested in connecting Hungary to the TAL pipeline from Trieste to Germany and welcoming the restart of the Druzhba pipeline from Brody to Odesa in Ukraine, following major political tensions last week between Kyiv and Budapest over the inoperable route.
Source: Euronews. Read the original report ↗