Hungary operates a liberalised natural gas market through its geographical location, capabilities and membership of the EU. The flow of east-west natural gas, transmission lines to neighbouring countries and the operation of domestic natural gas fields provide the necessary natural gas resources for the operation of the market. Hungary also has excellent facilities for natural gas storage, there are 5 functioning natural gas storages on its territory. By the end of the 2010s, Hungary's exports of natural gas had increased, but there was also a significant transit traffic.
Domestic energy consumption has ranged from 9-10 billion cubic meters in recent years. The maximum daily peak demand ranges between 60 and 70 million cubic meters.
Market legislation was and will be developed according to the EU directives. The market was liberalised in 2004 and around 80 trading companies (wholesale and/or retail) are active, including several multinational companies. About 45% of domestic end-use belongs to the universal service segment (largely the population) and 55% is sold on a competitive market. Universal service is a regulated market with an official price.
Access to systems (transport, distribution, storage) is regulated.
The Hungarian natural gas stock market has an increasing role in our region, with intraday, day-to-day and futures contracts available. For the time being, bilateral and over-the-counter transactions are even more likely to dominate on the futures market.
