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Hungary Oil and Gas Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 84 pages

Includes 3 FREE quarterly updates

BMI View:

Despite an efficient refining sector and favourable regulatory environment Hungary's weak upstream profile renders the country one of the least attractive oil and gas markets in Central and Eastern Europe. Small and depleting reserves will push Hungary's oil and gas production lower over the coming decade thus making the country increasingly dependent on energy imports from Russia.

The main trends and developments for Hungary's oil & gas sector are:
- In July 2015, the Croatian government has declared the Krk LNG project a "strategic investment", and is expecting to begin construction in mid-2016. A three-year construction timeframe for the facility has
been outlined, with expected completion by the end of 2019. We believe the LNG project will boost the flexibility of the gas market in Hungary and the wider region, and improve bargaining power against Russian gas supplies.
- In February 2015, Hungary and Russia reached an agreement on the unused volumes of gas in line with a gas supply contract signed between the two countries in 1996. The new deal freed Budapest from 'take or
pay' contracts and replaced them with an agreement that Hungary only needs to pay for the gas it consumes.

Table Of Contents

Hungary Oil and Gas Report Q1 2016
BMI Industry View 7
Table: Headline Forecasts (Hungary 2013-2019) . 7
SWOT 9
Oil and Gas SWOT 9
Industry Forecast .. 11
Upstream Exploration 11
Latest Updates 11
Structural Trends .. 11
Table: Proven Oil and Gas Reserves (Hungary 2013-2018) . 12
Table: Proven Oil and Gas Reserves (Hungary 2019-2024) . 12
Upstream Projects .. 13
Table: Hungary - Main Upstream Projects . 13
Upstream Production - Oil 14
Latest Updates 14
Structural Trends .. 14
Table: Oil Production (Hungary 2013-2018) . 15
Table: Oil Production (Hungary 2019-2024) . 15
Upstream Production - Gas .. 16
Latest Updates 16
Structural Trends .. 16
Table: Gas Production (Hungary 2013-2018) . 17
Table: Gas Production (Hungary 2019-2024) . 18
Refining . 19
Latest Updates 19
Structural Trends .. 19
Table: Refining Capacity And Refined Products Production (Hungary 2013-2018) 21
Table: Refining Capacity And Refined Products Production (Hungary 2019-2024) 21
Refined Fuels Consumption .. 22
Latest Updates 22
Structural Trends .. 22
Table: Refined Products Consumption (Hungary 2013-2018) . . 23
Table: Refined Products Consumption (Hungary 2019-2024) . . 24
Gas Consumption 25
Latest Updates 25
Structural Trends .. 25
Table: Gas Consumption (Hungary 2013-2018) . 26
Table: Gas Consumption (Hungary 2019-2024) . 27
Trade - Oil 28
Crude Oil Net Trade . 28
Latest Updates 28
Structural Trends .. 28
Table: Crude Oil Net Exports (Hungary 2013-2019) . . 29
Table: Crude Oil Net Exports (Hungary 2019-2024) . . 30
Refined Products Net Trade 30
Latest Updates 30
Table: Refined Fuels Net Exports (Hungary 2013-2018) . 31
Table: Refined Fuels Net Exports (Hungary 2019-2024) . 32
Trade - Gas (Pipeline And LNG) . 33
Latest Updates 33
Structural Trends .. 33
Table: Gas Net Exports (Hungary 2013-2018) 35
Table: Gas Net Exports (Hungary 2019-2024) 35
Industry Risk Reward Index 36
Central And Eastern Europe Oil and Gas Risk/Reward Index .. 36
Table: CEE: High Risk, Low Reward . 36
Table: CEE Upstream, Downstream And Overall Risk/Reward Index 37
Upstream: China Still The Target Market 37
Table: CEE Upstream Risk/Reward Index . . 40
Downstream: Turkish STAR Only Bright Spot In Weak Market .. 40
Table: CEE Downstream Risk/Reward Index . 42
Hungary - Risk/Reward Index .. 43
Hungary Upstream Index - Overview 43
Hungary Upstream Index - Rewards . 43
Hungary Upstream Index - Risks 44
Hungary Downstream Index - Overview .. 44
Market Overview 45
Hungary Energy Market Overview .. 45
Regulatory Structure . 45
Oil And Gas Infrastructure 47
Oil Refineries . 47
Table: Refineries In Hungary . . 47
Service Stations . 48
Oil Storage Facilities 48
Oil Pipelines .. 48
Gas Storage Facilities .. 49
Gas Pipelines . 49
Table: Gas Pipeline Infrustucture . 49
Competitive Landscape . 50
Competitive Landscape Summary .. 50
Table: Key Players - Hungary Oil and Gas Sector . 51
Table: Key Upstream Player 51
Table: Key Downstream Players . . 51
Company Profile . 52
Agip Hungaria . 52
MOL .. 55
OMV Hungary . 62
Shell Hungary .. 64
Other Summaries . 67
Regional Overview 69
Central And Eastern Europe Oil and Gas Regional Overview .. 69
Oil Production: Caspian Remains Centre Of Growth 69
Oil Consumption: Fuels Demand Gradually Strengthening . 70
Refining Capacity: Modernisation Over Capacity Additions 71
Natural Gas Production: Gas Ramp-Up To Feed Red Dragon 72
Table: Central Asia-China Gas Pipeline Expansions . . 73
Gas Consumption: Demand Falters On Struggling Economies 74
Table: Central and Eastern Europe Oil and Gas Production and Consumption, Refining Capacity and Trade . 75
Glossary .. 77
Table: Glossary Of Terms 77
Methodology . 79
Industry Forecast Methodology . 79
Source . 81
Risk/Reward Index Methodology 81
Table: Bmi's Oil and Gas Upstream Risk/Reward Index . 83
Table: Weighting 84

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